How much will you pay for gas this July 4th in Illinois? See latest price changes
Illinois has seen the 10th-greatest decline in gas prices over the past 5 weeks, according to a recent report from financial company SmartAsset.
SmartAsset’s June 29 report, “The Fourth of July Gas Price Burden,” found the average price of a gallon of regular gasoline fell by 21% in Illinois from May 21 to June 28.
“Gas prices have fallen across the U.S. since reaching an annual peak on May 21, offering some relief before one of the year’s busiest driving periods,” SmartAsset’s analysis reads.
Although the Land of Lincoln has seen greater price relief than most states, the average price per gallon is $4.128, more than 26 cents per gallon more expensive than the national average, and higher than any surrounding state’s average, according to June 29 fuel price data from travel company AAA.
St. Clair County’s average gas price is steeper than Illinois’ statewide average as of June 29, at $4.426 per gallon.
Why are gas prices higher in Illinois?
One reason Illinois’ gas price is comparatively high is the state’s Motor Fuel Tax, which will increase by 1.3 cents per gallon Wednesday, bringing the tax on a gallon of gasoline to 49.6 cents per gallon, and the diesel tax to 57.1 cents per gallon.
Illinois’ gas tax is already higher than most states’, and its increases are tied to inflation. The tax is a major source of infrastructure funding for the state.
States with the greatest declines in gas prices
Here’s how the top 10 states with the greatest declines in average gas prices from May 21 to June 28 compared, according to SmartAsset:
- Colorado: 29.2% decline in average gas price from May 21
- Kentucky: 25.4%
- Indiana: 25.3%
- Tennessee: 24.7%
- Ohio: 23.9%
- Texas: 23.6%
- Iowa: 22.1%
- Wisconsin: 21.9%
- Oklahoma: 21.4%
- Illinois: 21%
Average gas prices have declined nationwide recently after spikes due to the war with Iran. The average diesel price peaked in Illinois at $6.142 May 14, while the highest-recorded average price of unleaded gasoline in the state was $5.562 back in June 2022, per AAA data.
How can you save more on gas?
While metro-east drivers are seeing price relief on fuel purchases, it can still be helpful to save some extra money.
Auto club AAA offers an online tool where you can search for gas stations along your route, including pricing. GasBuddy is another option, offering an app to search for cheaper gas and a U.S. gas price map. As of June 29, GasBuddy shows crowdsourced prices of $4.39 at a Circle K, Motomart and ZX in Belleville, $4.59 at a BP and $4.99 at a Conoco.
The app Upside offers cash back on gas purchases, as well as a map to locate the most affordable stations near you.
More money-saving tips to consider include using any cash-back offers your credit card company may have, checking if your company reimburses you for work trips, downloading gas station apps for offers and buying your gas with cash.
Additionally, if you happen to live near a Metro station, public transportation can be a more affordable alternative to driving.
Do you have a question about affordability in Illinois for the News-Democrat? We’d like to hear from you. Fill out our Metro-east Matters form below.
