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According to AAA, the average price for a regular unleaded
gallon of gasoline in Illinois was $4.29, up in recent days but
down 6 cents from a month ago.
Despite a rise in cost statewide, fuel prices in Illinois are 5
cents lower than the national average.
The price of diesel fuel has also seen historic and
near-historic heights in the past week in some Illinois
counties, including an all-time recorded high of $6.19 for a
gallon in the Alexander County area Thursday.
The rise comes as the White House and President Donald Trump
have sought new, stronger economic sanctions against Iran and
countries doing business with Iranian companies.
U.S. Treasury Secretary Scott Bessent described the new economic
strategy’s launch to an economic version of a D-Day.
"We are launching an economic onslaught against Iran's financial
connections around the globe, around the globe. Our objective is
to sever every economic lifeline that sustains this tyrannical
regime," Bessent said on Aug. 24.
According to Patrick De Haan, head of petroleum analysis at
GasBuddy, fuel prices typically fall nationwide as the end of
summer nears, and don't typically climb above $4 after Aug. 10.
Alongside the economic strategy, the U.S. has also tapped into
its depleted missile stock Sunday, striking Iranian rocket
launchers and breaking a near monthlong break in hostilities.
Trump called Iran a “failed nation” and spoke to the adversary’s
economic standing when addressing the renewed attacks.
“They’re a failed nation. They’ve got 350% inflation. They have
no currency. They’re not paying their soldiers. Their leaders
are largely dead,” Trump said Monday. “That doesn’t mean we
won’t smack them. We’ll see what happens, but we have the Strait
of Hormuz in extremely good shape.”
Trump touted an increase in the amount of ships transiting the
strait overnight, up to an average he reports to be 30 per
night. Pre-conflict transits of the strait averaged about 130
per day.
Ahead of Labor Day weekend, global prices for a barrel of crude
oil remain uncertainwith the Middle Eastern conflict ongoing.
AAA noted in a news release that drivers traveling over the
Labor Day weekend should prepare their vehicles and check common
parts of their vehicles like batteries, tires, brakes, lights
and more before leaving on a road trip.
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