BY SUMMER GAS PRICES WILL BE AROUND $.3.00 PER GALLON, WHERE IS THE OUTCRY??

Experts: Gas prices in Chicago to top $3

February 23, 2010

Gas prices are headed up to above $3 a gallon for regular, and experts say it isn't because of higher demand.

The average per-gallon price of unleaded regular gasoline in Chicago jumped 10 cents in the last week to $2.82, which is 84 cents higher than a year ago, according to AAA, the Oil Price Information Service and Wright Express.

Nationally, the price is $2.65 a gallon, up 3 cents a gallon from last week and 73 cents a gallon higher than a year ago.

Pump prices typically rise this time of year as refineries switch to a more expensive grade of gas. But prices are climbing even after millions of Americans got pink slips and kept their cars in the driveway.

What's pushing prices higher is the crude oil that's used to make motor fuel, said Fred Rozell of the Oil Price Information Service. Crude is an international commodity that has become ever more expensive as demand grows in China. As crude prices increase, so do gas gas prices.

Sun-Times staff and wires