Gas Prices Drop In The Rockford Area, Says Gas Buddy

For the 5th straight week, the national average price of gasoline has risen, posting a gain of 0.7 cents over the last week to $1.97 per gallon. Here in Rockford, it's different.

For those looking for some sort of silver lining to all the troubles we're currently experiencing, this isn't much, but it's better than telling you we're going to 5 dollar a gallon gas.

The folks at GasBuddy, who make their living giving you the latest on gas prices and trends, say that a gallon of gas in the Rockford area has fallen nearly 5 cents in the past week to an average of $2.06 per gallon.

13 WREX News:

Prices are forty cents higher than a month ago, but almost 78 cents lower than a year ago. The national average remained roughly the same, rising less than a penny. The average price nationwide is at $1.97.

Patrick De Haan, head of petroleum analysis for GasBuddy:

The pace of increases has begun to throttle back over the last week in most states as gasoline demand’s recovery has slowed, keeping prices from matching their rapid pace from just a couple weeks ago. Prices will continue to move in lock-step with the coronavirus situation, so it remains challenging to know where prices will go in the weeks ahead. Oil prices saw another weekly rise, closing last week at over $35 per barrel due to a collision between oil production cuts and gasoline demand in the U.S. which has been on the mend, leading oil’s rally. The recovery in gas prices is likely to continue, though at a slower pace than what we’ve seen, with $2 per gallon likely coming in the next week or two.