Dec. 02--The Chicago area's average gasoline price has fallen below the national average for the first time since 2012, according to GasBuddy.com.
As of mid-Wednesday morning, the average price for a gallon of regular unleaded gasoline in the Chicago area was $2.029, compared with $2.033 nationally, says the provider of retail fuel price data.
That has occurred only 22 days since 2002, said Patrick DeHaan, senior petroleum analyst in the Midwest for GasBuddy.
Still, in the late morning, some suburban gasoline stations were beginning to raise prices, which could bring Chicago-area prices slightly above the national average again at least briefly, DeHaan said.
Even better for consumers than falling below the national average, Chicago-area prices "are inching towards dropping under $2 a gallon," he said.
That's the first time that has happened since 2009, DeHaan said.
AAA showed similar numbers early Wednesday morning.
It said the national average for a gallon of gas was $2.038. The Chicago area was at $2.01.
JPMorgan Chase Institute recently released a study showing that most of the savings from lower fuel prices are going toward the purchase of other goods and services, with the restaurant industry being a notable winner.
byerak@tribpub.com
