Gas prices keep surging in Chicago and beyond amid war in Iran
The war with Iran is causing gas prices to surge, with motorists in Chicago and around the country guaranteed to feel the impact at the pump.
At a Shell gas station at Armitage and Damen avenues near the Kennedy Expressway on Monday morning, prices hit $4.69 per gallon. The trend has quickly gained drivers' attention.
As of Monday, the average gas price was $3.79 per gallon within the city of Chicago, $3.67 in the suburbs, and $3.50 in Northwest Indiana, where gas is often cheaper than in Illinois.
The Northwest Indiana figure is still higher than the national average for a gallon of regular, which is about $3.45.
Nekira Dockery had one word to describe the price at the pump: diabolical. Dockery lives on the West Side, works at O'Hare International Airport, and goes to Lincoln Tech in Melrose Park, so she does a ton of driving.
"One day, it was like $3.49. That was that morning. On my way back to work that night, $3.79," she said. "Crazy. How does it happen like this?"
Manny Ramirez, a carpenter, has been driving all over the Chicago area for over 25 years making custom cabinetry and doing home improvement projects. Lately, he said even building materials have gotten expensive.
"We barely making it. People can barely afford to make any improvements in their homes," he said. "People, we barely can afford it to make a living, and then with the gas prices, it's making it even worse."
The increase comes as global oil prices surge amid the escalating conflict involving Iran, a key player in the world's energy supply.
The price of crude oil has now climbed above $100 a barrel for the first time since 2022. It is driven by fears that the Iran war could disrupt oil shipments from the Middle East.
Analysts warn that oil prices, and by extension gas prices, could keep rising if the conflict continues. But U.S. Secretary of Energy Chris Wright had a more optimistic tone.
"They shouldn't go much higher than they are here, because the world is very well supplied with oil," Wright said.
Mohammed, a small business owner, drives daily.
"Right now, gas is going up, and it's hard to kind of raise prices on the customers, because things are not great at this point. So to raise prices on the customers, it kind of like, it becomes unfair to them," he said. "You don't want to lose customers by raising prices. You try to stick with the price. At the same time, you pay a little bit higher cash. So it doesn't help us very much, but we have to stick with it."
In another warning sign, diesel prices are also soaring. This matters because diesel powers the trucks, trains, and ships that deliver everything from groceries to online orders.
As shipping costs go up, experts say consumers could also see higher prices on shelves in grocery stores.