Did you see what happened to the price at the pump in Belvidere on Thursday?

For those of you in Belvidere who were up early this morning, you may have noticed prices at the pump were averaging about $2.69 a gallon, this afternoon, prices shot up as high as $3.05 a gallon. That's a price jump of 36 cents a gallon in one day. What the heck is going on?

According to Gas Buddy, Here are some of the very high prices of regular 87 octane gas in Belvidere.(as of Thursday Afternoon)

  • $3.05 Mobil Station on Pearl Street
  • $3.05 BP on Logan Ave
  • $3.05 Fas Fuel on S. State Street

Belvidere, used to be the hot spot to get discounted gas in the past, not so much anymore. By comparison in Rockford, according to Gas Buddy, you can still fill up for anywhere between $2.61 - $2.82 a gallon.

According to Manufacturing Net News, one possible reason for the price spike can be

partly attributed to recent supply shortages in Libya and Canada. Analysts point to other factors, including Trump’s renewal of sanctions on Iran—a major global oil exporter—as another cause of higher prices.

Prices are expected to go up over the next few weeks. As to the reason why prices are so high in Belvidere, remains a mystery.