Falling Oil Inventories Keep Gas Prices Higher

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(Undated) – A recent drop in oil inventories is driving gas prices higher. According to GasBuddy.com, crude oil inventories have decreased by 8 million barrels to a total of 413.7 million barrels. At that level, inventories are 79.3 million barrels which are sixteen percent below last year and are about fifteen below the five-year average. As a result, the current national average for gas is $4.13 a gallon, a nickel higher than Monday’s average. The statewide average in Illinois is up seven cents from Monday to $4.43 a gallon and it’s just a penny higher in Indiana at $3.92 a gallon.