Will we be paying $3.50 for gas in Chicago this year?
CHICAGO (Fox 32 News) - Nationwide, gas prices rose 2 cents over the past two weeks - and we might be seeing $3.50 per gallon in Chicago by the end of the year.
Analyst Trilby Lundberg said that the current national average price for a gallon fo gas is $2.33. That's 56 cents higher than it was a year ago.
Gas Buddy's 2017 Fuel Outlook predicts that gas prices in Chicago could hit a peak daily average of $3.15 to $3.50.
Oil analyst Phil Flynn of the PRICE Futures Group said he doesn't think we'll get to $3.50, but "near $3.00 is a possibility."
"Enjoy the cheap gas prices while you can," Flynn said. "Rising oil prices and record demand has set the stage for higher prices this summer."