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Gas prices in Chicago-area decline in November to lowest since January

A hpump BP stati35th Street King Drive Chicago as average gasoline prices reach record high Chicago areMonday March 26 2012.

A hand at the pump at the BP station, 35th Street and King Drive, Chicago, as average gasoline prices reach a record high in the Chicago area on Monday, March 26, 2012. | John H. White~Sun-Times

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Updated: December 7, 2012 9:43AM

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 in a statement Wednesday.

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.

Elsewhere in Illinois, the average price of that same gallon on Wednesday morning was $3.59, unchanged from a month ago and up 15 cents from a year ago, according to AAA.

In northern Indiana, gas prices averaged $3.43 in November, down 16 cents from October but up 10 cents from November 2011, according to AAA. For both Illinois and Indiana, it was the lowest monthly average since January 2012.

Other monthly averages for self-serve unleaded gasoline the region include:

In Kane County, $3.54 per gallon, 23 cents lower compared to last month and 5 cents higher than November 2011’s price.

In Cook County, $3.71, down 25 cents from October and 8 cents higher than last year.

In DuPage County, $3.57, a 22-cent decrease from October and up 4 cents from last year.

In McHenry County, $3.50 per gallon, 27 cents lower than last month’s average and 6 cents higher than November 2011’s price.

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