Illinois drivers paying about $65 more monthly as war drives up gas prices

An analysis from the Center for American Progress finds that the Trump administration’s war in Iran is driving a sharp increase in gas prices in Illinois, with prices rising 40.3 percent since late February. Drivers in the state are now paying $4.27 per gallon, up $1.23, adding roughly $65 more per month for a typical household.

The increase in Illinois reflects a broader national surge, as global oil markets remain disrupted by the ongoing conflict. Gas prices have risen in all 50 states, pushing costs well above typical seasonal increases and straining household budgets.

“The president’s war is costing Americans at the pump in every corner of the country,” said Emily Gee, senior vice president for Economic Policy at the Center for American Progress and author of the analysis. “Gas prices are up $1.23 in Illinois, and with global oil markets still in turmoil, families are unlikely to see relief anytime soon.”

CAP’s analysis for Illinois finds:

• Gas prices have surged sharply. Prices in Illinois have increased 40.3 percent since the war began, rising from $3.04 to $4.27 per gallon.
• Drivers are paying significantly more each month. The increase is costing typical drivers about $65 more per month.
• Prices are rising nationwide. Gas prices are up in all 50 states, with the national average now at $4.02 per gallon, up more than $1.04 since before the conflict.
• Global energy disruptions are driving costs. Oil prices remain roughly 40 percent higher than pre-war levels, with supply constraints continuing to push prices upward.

Even if oil prices begin to stabilize, gas prices are expected to remain elevated in the near term, meaning continued pressure on household budgets in Illinois and across the country.

Read the analysis: “State-by-State Increases in Gas Prices Since Trump’s War on Iran” by Emily Gee

 

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The Center for American Progress is a nonpartisan research and educational institute dedicated to promoting a strong, just and free America that ensures opportunity for all. The organization believes that Americans are bound together by a common commitment to these values and it aspires to ensure that national policies reflect these values. It works to find progressive and pragmatic solutions to significant domestic and international problems and develop policy proposals that foster a government that is “of the people, by the people, and for the people.”