DOWNTOWN — Gas prices are expected to hit $3 per gallon in Chicago "very soon," according to a new report, and could hit $3.50 later this year.
Gas prices tend to jump up this time every year, according to a report from GasBuddy, which tracks gas prices across the United States. This year they're expected to rise an average of 35-75 cents across the nation, while larger cities like Chicago, New York and Los Angeles could see a jump up to $3 per gallon.
On average, people in Chicago were paying $2.43 per gallon of gas as of Wednesday and prices were trending upward, according to GasBuddy.
Last year saw gas prices rise 92 cents per gallon between mid-February and Memorial Day in Illinois, according to GasBuddy. That means Illinois had the third-largest price increase of any state.
Prices go up in the spring as refineries prep for "maintenance season" and switch to cleaner-burning gasoline for the summer, according GasBuddy.
In its outlook for 2017, it forecasts the price of gasoline in Chicago at $3.15 to $3.50 per gallon.
