Residents of Illinois, especially motorists and drivers, worry so much about gas prices in the state. This makes them ask such questions as, why are gas prices so high in Illinois? Who controls gas prices in Illinois? And what factors contribute to the high gas prices in the state?
If you have ever asked any of these questions or similar ones, this article is for you. We have used it to answer any question about gas prices in Illinois. Get more information here.
How much is gas in Illinois now?
Gas prices in Illinois are higher than in most states in America. However, some states like Texas, Arkansas, Oklahoma, and Kansas have cheaper gas than Illinois.
Residents of Illinois will buy a gallon of gas for $4.41 for regular fuel and $5.13 for premium products. Of course, like other states, gas prices in Illinois is not stable, as seen in the table below.
|Week Ago Avg.||$4.4||$5.11|
|Month Ago Avg.||$4.39||$5.1|
Is gas more expensive in Illinois?
Gas is more expensive in Illinois than in other states because it has the second-highest gas taxes in the nation. In other words, residents of the state will pay more tax on a gallon of gas than the residents of states like PA, Texas, Mississippi, and Oklahoma.
Despite the high tax, residents of California, Hawaii, and New York pay more for a gallon of gas than people living in Illinois.
Other factors that contribute to higher gas prices in Illinois include the cost of importing gas into the state, the high demand for gas in the state, and the global cost of crude oil, which is determined by the production of crude oil.
Why are gas prices so high in Illinois?
One of the major factors that contribute to high gas prices in America. While states like Illinois, California, Hawaii, and New York pay high taxes on gas, residents of Texas, Arkansas, and Oklahoma pay some of the lowest taxes on gas in the United States of America.
Put in a different way, the gas tax in Illinois is the major reason the residents of the state pay much to use gas.
Why is gas more expensive in Illinois than in Wisconsin?
As usual, gas paid on a gallon of gas is the major factor differentiating gas prices in various states in America. States with a higher tax rate have more expensive gas than states where taxes are low.
In Illinois, the tax rate on gas is higher than in Wisconsin, which has the eleventh-highest gas tax against Illinois, with the second-highest gas tax. While the residents of Illinois pay 39.1 cents per gallon of gas, those who live in Wisconsin pay around 43.1 cents. This accounts for the difference in gas prices in these states.
Who controls gas prices in Illinois?
Generally, gas prices are controlled by a combination of varying factors, and no single person or factor can determine gas prices in any state, including Illinois. Before setting gas prices, gas vendors in Illinois consider the following factors, including the global cost of crude oil, the tax rate on crude oil in the state, the demand for gas in the state, the global demand for crude oil, and the supply of crude oil.
All these factors are what determine and explain the high of gas in America and Illinois in particular.