Prices at the pump soar in Illinois
WILLIAMSON COUNTY, Ill. (KFVS) - In Illinois, gas prices are even higher than the national average.
According to AAA, the average price for a gallon of gas monday in Illinois hit $5.40.
Drivers across southern Illinois are not thrilled with the prices they’re paying to fill up. And One expert says he’s not sure how high prices will continue to climb.
“It’s absolutely ridiculous,” said Timothy Vanhorn of Christopher, Illinois.
Vanhorn, as a younger driver, say’s he’s fed up with the high gas prices.
“I’m a high school kid going into college and honestly it’s really making me tap into my funds and it’s unfortunate really. I mean no one really has like 5 dollars for a gallon of gas,” said Vanhorn.
He even says it’s affecting himself and others from getting to and from their jobs.
But for another driver, he has homes in both southern Illinois and Oklahoma. He tells me Illinois’ gas tax is much higher than other states.
“There’s a big difference in the amount of taxes you pay between the states, the Oklahoma fairly low state tax on oil and gasoline, you come further east, Missouri is a little bit higher and Illinois is absolutely the highest,” said Michael Ochman of Norman, Oklahoma.
A professor of economics at SIU says short term prices are unpredictable.
“If it goes down, I don’t see it go down that much. How much it’ll continue to rise is the big question, and that’s very much open ended. If it continues to go up some I wouldn’t be surprised,” said Kevin Sylwester, Professor of Economics at SIU.
He says the high prices will change some peoples habits in the near future.
“People will cut back, and to the extent of what they do cut back that will keep demand a little lower. I don’t think that’s going to crest a huge downfall in gasoline prices,” said Sylwester.
Sylwester says as the prices continue to climb at the pump, oil companies will hopefully be finding a solution.
“As the price increases, they’re going to untap those wells, they’re going to explore more, drill for new oil and so forth but that doesn’t happen over night,” said Sylwester.
Illinois saw one of the largest gas price increases in the last week and is also one of the most expensive states to by gas in. Nationally, Illinois sits in the top 10, tied for 5th most expensive.
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