Strong Demand Expected at Gas Pumps This Summer

BY JIM TAYLOR, ILLINOIS FARM BUREAU RADIO

Motorists head into Memorial Day weekend with the average national retail gas price at $2.37 per gallon, or 7 cents more than last year at this time.

“So, again, gas prices sitting in the low to mid-$2 range, very reasonable,” said Harry Cooney, manager in energy customer risk management for GROWMARK. “So I think gas demand should be strong and gas prices staying reasonable compared to the last five to 10 years.”

He said summertime gas demand could hit a record in weekly demand at 10 million barrels per day.

“Getting into the mid-summer, if we continue to have very reasonable prices, we could see those type of demand numbers,” Cooney said.

The Illinois retail gas price average is $2.44 per gallon, according AAA. Danville has the lowest average in Illinois at $2.14 per gallon, with the highest average in Chicago at $2.78.

The average national price for diesel fuel is $2.51 a gallon, 21 cents more than the same period a year ago. The state average is $2.46.