Gas prices are doing something shocking right now.
They’re going down.
AAA says the national average for gas prices is $3.13 today, June 3. That’s down a penny since yesterday and three cents since last week. The average in Illinois today is $3.36 and the average in Iowa today is $2.92.
Molly Hart, spokeswoman for AAA Auto Club Group, spoke with Our Quad Cities News via Zoom to talk about why gas prices are moving in favor of drivers.
“It’s unusual that gas prices have been dropping, especially in summer, when that is the high time, and when gas prices go up,” she said. “There are a few different things that are going on; there’s lower crude oil prices and that makes a difference. We also have reduced gasoline demand and there’s been a slight uptick in gasoline supply. What a lot of people don’t know is that when you go to the pump, 55 to 60% of what you’re paying is the crude oil prices. They’re low right now and that’s why we’re seeing this decrease.”
New regulations for the auto industry are helping drive down gas prices. “The National Highway Traffic Safety Administration has also put out some regulations, and that means fleet-wide, all automakers need to meet specific fuel economy targets. The cars are becoming more fuel efficient, so that’s why gas prices are also going down.”
The timing couldn’t be better for travelers. “The good news here in Illinois is that gas prices have dropped by 56 cents since a year ago, so we are seeing some savings at the pump, which is great,” Hart said. “It’s summer, many families do their summer road trips, so they’re going to see some savings in their wallets.”
Copyright 2025 Nexstar Media Inc. All rights reserved. From https://www.ourquadcities.com. By Sharon Wren.