The price of gasoline continues to fall. The statewide average for June was $3.70, according to the monthly survey by the Triple-A Chicago Motor Club. That’s down 21 cents from the previous month, and down 25 cents from last year at this time.
Triple-A spokesman Nick Jarmusz says this is because the price of oil is falling due to economic events around the world. “There’s still a lot of concern about the European debt crisis and the future of the European economy, which is causing speculation to kind of push down the cost of oil on the market, which then lowers prices at the pump for us,” he said.
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Jarmusz says the price now isn’t cheap, but people are OK with it, since it was well over $4 earlier this year.