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Gas prices lowest since January

Chicago-aregas prices have been dropping they may continue falling inThanksgiving holidays if no major world unrest or service disruptioccurs. |

Chicago-area gas prices have been dropping and they may continue falling into the Thanksgiving holidays, if no major world unrest or service disruption occurs. | Sun-Times file

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Updated: January 7, 2013 7:15AM

The price of a gallon of gas in the Chicago area dropped nearly 25 cents in November to an average of $3.52, the lowest since January, although 4 cents higher than a year ago, the AAA reports.

“Most motorists managed to save a little money on gasoline just in time for holiday shopping,” AAA Chicago spokeswoman Beth Mosher said of the most recent Fuel Gauge Report.

Concerns about fighting in the Middle East and the “fiscal cliff” kept prices from falling more, she said.

AAA predicts gas prices will slowly drop and average between $3.20 and $3.40 a gallon nationally by New Year’s Day.

As of Wednesday morning, the average price of a gallon of regular unleaded gas in the city of Chicago was $3.781, down from $3.813 a month ago, but higher than the $3.662 of a year ago.

James Scalzitti

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