THE JOURNAL & TOPICS NEWSPAPERS | WEDNESDAY, AUGUST 13, 2008

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Some Relief At Gas Pumps, But How Long Will It Last?

By TOM ROBB

Journal & Topics Reporter

Consumers are finally seeing some relief at the gas pump as prices in the North and Northwest suburbs recently slipped under $4 per gallon at local filling stations for the first time in several months.

Last week, stations in Des Plaines were selling gas for as little as $3.93 per gallon with stations in Elk Grove Village and Schiller Park selling for about the same. In Addison gas was selling at $3.85 per gallon.

Jason Toews, co-founder of Gasbuddy.com that operates Chicagogasprices.com, said this week that drivers can expect prices to continue their fall at an even sharper rate after Labor Day, the traditional end to the summer driving season. He said prices could possibly drop to $3.20 per gallon. He expects another rise in gas prices around January or February of next year.

Toews said he believes the price of gas peaked for the year in the first week of July when it reached an average price in the Chicago area of $4.35 per gallon. He explained the record gas prices caused people to fundamentally change their habits and drive less, easing demand for, causing the price to drop.

"We're becoming desensitized to high gas prices," said Toews.

He said the price of gas nationally spiked after Hurricane Katrina at between $2.30 and $2.50 per gallon and people thought that was shockingly high.

Toews fears that when gas prices fall drivers will become less conservative in their driving habits.