Negative oil prices result in plunging gas prices in northern Illinois

Gas prices continue to plunge across the country as the market for U.S. crude has cratered amid the COVID-19 pandemic.

On Monday, the price of U.S. crude for delivery turned negative for the first time at negative $37.63 per barrel. On Tuesday, the cost to have a barrel of U.S. crude delivered in May was at negative $7.40.

With more and more people staying home and oil prices dropping to record lows, the average price for gas is also starting to reach lows not seen since the early 2000s.

As of Tuesday morning, the average gas price in Illinois fell to $1.81 a gallon, according to fuel analysis company GasBuddy, down 24.4 cents from last month.

The average price nationally is even lower at $1.77 a gallon, down 32.5 cents from March. Last year, the national average was $2.84 and the Illinois average was $2.90.

There are more than a dozen states with low prices that can be found for under $1 a gallon: Arkansas, Colorado, Iowa, Kansas, Kentucky, Michigan, Mississippi, Missouri, New York, Ohio, Oklahoma, Virginia and Wisconsin.

On April 17, Wisconsin’s average gas price reached its lowest point since March 2002, and Illinois saw its lowest average since Nov. 2008. Kentucky, Michigan, Oklahoma and Minnesota have also seen their lowest gas prices in over a decade.

Gas prices are not expected to go up any time soon.

“It’s staggering to know that in five of these six states, we haven’t seen these prices in over 15 years, and for many of us, we watch from the living room window, adhering to the orders to stay at home,” said Patrick De Haan, head of petroleum analysis for GasBuddy, in a news release. “There is strong potential that we will see gas prices this summer far lower than our previous expectations, and I’m hopeful by then we’re safely able to enjoy it.”

The cheapest gas in Illinois on Tuesday morning was $1.13, at four locations: Costco at 5000 Stadium Drive in Loves Park, Casey’s at 1320 W. Main St. in Carmi, Murphy USA at 1348 IL-1 in Carmi, and Phillips 66 at 610 E. Main St. in Carmi.

Sam’s Club at 7241 Walton St. in Rockford was $1.18 and Woodman’s at 3155 McFarland Rd. in Rockford was $1.19.

The average gas price in McHenry County was $1.77 on Tuesday morning, according to GasBuddy. Among some neighboring counties, the average gas price in Boone County was $1.43, followed by DeKalb and Lake ($1.84), Will ($1.85), Kane ($1.87) and DuPage County ($1.89).

The average gas price in Kendall County was $1.65, and the average price in La Salle County was $1.80 a gallon.

In Chicago, drivers paid an average of $1.98 a gallon, down 32.4 cents from last month. Last year, drivers paid an average of $3.20 a gallon.

Here is a list of the sites with cheapest gas prices in Illinois, according to GasBuddy, by county:

McHenry County ($1.77 average)

$1.55, Mobil at 4304 N. Johnsburg Rd. in Johnsburg

$1.56, Marathon at 3514 N. Richmond Rd. in Johnsburg

$1.57, Marathon at 4608 W. Crystal Lake Rd. in McHenry; BP at 5301 Bull Valley Rd. in McHenry; CITGO at 8606 US-12 in Richmond

DeKalb County ($1.84 average)

$1.54, Marathon at 411 Main St. in Kirkland

$1.62, Casey’s at 129 E. Railroad St. in Kirkland

$1.63, Casey’s at 902 E. Church St. in Sandwich; Casey’s at 900 E. Market St. in Somonauk; CITGO at 150 E. Market St. in Somonauk

DuPage County ($1.89 average)

$1.42, BP at 600 W. Irving Park Rd. in Bensenville

$1.43, Shell at 4 W. Irving Park Rd. in Bensenville

$1.45, CITGO at 217 E. Irving Park Rd. in Wood Dale

Kane County ($1.87)

$1.47, Woodman’s at 2190 Randall Rd. in Carpentersville

$1.49, Woodman’s at 2167 Randall Rd. in Carpentersville

$1.59, BP at 1190 N. McClean Blvd in Elgin; 151 Hansen Blvd. in North Aurora, Woodman’s at 151 Hansen Blvd. in North Aurora; Mobil at 300 S. Broadway in Aurora; Shell at 298 Montgomery Rd. in Montgomery, Shell at 596 Montgomery Rd. in Montgomery; Mobil at 1680 Montgomery Rd. in Aurora; CITGO at 310 Webster St. in Montgomery

Kendall County ($1.65)

$1.51, Sam’s Club at Ogden Ave. in Montgomery

$1.53, CITGO at 17485 Ridge Rd. in Minooka

$1.59, Shell at 1190 US-32 in Oswego, BP at 1402 N. Bridge St. in Yorkville, Murphy USA at 2350 US-32 in Oswego; Murphy USA at 1927 US-30 in Montgomery; Marathon at 1 Boulder Hill Pass in Montgomery; Shell at 160 Douglas Rd. in Oswego; Casey’s at 580 E. Veteran’s Parkway in Yorkville; BP at 2791 US-34 in Oswego

Lake County ($1.84)

$1.29, Woodman’s at 27555 IL-120 in Lakemoor

$1.39, Sam’s Club at 335 N. Milwaukee Ave. in Vernon Hills; Woodman’s at 1550 Deerfield Pkwy. in Buffalo Grove

$1.45, Costco at 25901 Riverwoods Rd. in Mettawa

La Salle County ($1.80)

$1.63, Casey’s at 180 N. Main St. in Leland

$1.65, Marathon at 4742 E. 2750th Rd. in Sandwich; Casey’s at 701 S. Ottawa St. in Earlville

$1.69, Kroger at 2399 N. Bloomington St. in Streator; Thorntons at 1810 N. Bloomington St. in Streator; Clark at 602 E. Main St. in Streator; Casey’s at 1401 E. Main St. in Streator; Marathon at 920 E. Main St. in Streator; FS at 3654 N IL-71 in Sheridan; Circle K at 1727 N. Bloomington St. in Streator

Will County ($1.85)

$1.48, Casey’s at 2528 W. Eames St. in Channahon

$1.49, Thorntons at 24144 W. Eames St. in Channahon; Pilot at 23841 W. Eames St. in Channahon; Speedway at 23730 W. Eames St. in Channahon; Mobil at 1529 N. Broadway St. in Joliet

$1.51 Shell at 3195 E. Division St. in Diamond

Source: The Daily Chronicle