The price of gas is coming down. The statewide average for May was $3.91 according to the monthly survey by the Triple-A Chicago Motor Club, a decline of 18 cents from April. And the price is 28 cents cheaper than it was a year ago, making May the first month this year with a lower price than the year prior.
“The price of oil is coming down, and prices in the spring were just so high and the situation became almost untenable, where consumers just couldn’t pay those prices,” said Beth Mosher of Triple-A, who says gas prices for the year have probably already peaked.
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Mosher says it’s unusual for the price of gas to be declining at this time of year, but it’s true – not because gas is cheap now, but because it was so expensive earlier in the spring.
Technical note: The Triple-A survey of gasoline prices used to be published during the month it was surveying. Now, it comes out several days after the month is over, so this report, issued in June, is for May.