Gas prices in the Bloomington-Normal area have jumped 45 cents in the last week.
The average price in McLean County is up to $3.56 per gallon. That's 65 cents more than the price in February, according to the fuel cost-tracking website GasBuddy.com, which called it one of the fastest gas price hikes in years due to the war in Iran that has spiked the price of oil.
“With additional attacks across the Middle East over the weekend pushing oil above $100 per barrel for the first time in years, fuel markets are now rapidly recalibrating to the risk of prolonged disruption to global supply flows,” Gas Buddy head petroleum analyst Patrick De Haan said in his weekly blog, adding gas prices could rise another 20-to-50 cents per gallon this week.
The cost to fill up in Bloomington-Normal is 5 cents below the state average and a penny above the national average.
De Haan estimates diesel prices could rise 35 to 75 cents per gallon.
“While the situation remains highly fluid, consumers are already beginning to feel the impact as energy markets adjust to this sudden escalation,” he said.
