ROCKFORD, Ill. (WIFR) – The American Automobile Association (AAA) says motorists are spending more at the pump compared to a year ago.
The average price of gasoline in Rockford is $3.35 per gallon on Monday. Gasoline prices in the Stateline have risen almost $1.00 since January 2021. Meanwhile, the national average for a gallon of gas rose two cents to $3.30.
Experts say edging gasoline prices are attributed to the price surge in crude oil, which is closing in on $80 a barrel. Fueled by social unrest and violence in Kazakhstan, a member of the OPEC+ alliance, which have forced that nation to cut production. Kazakhstan is reported to pump nearly 2 million barrels of crude a day. In contrast, the United States, as the top oil-producing country in the world, pumped an average of 18.6 million barrels a day.
Since the global price for oil accounts for nearly half of what consumers pay at the pump, higher oil costs will usually result in higher gasoline costs.
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