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
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 — though 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,” said Beth Mosher, spokesman for Aurora-based AAA Chicago, of the most recent Fuel Gauge Report.
“Prices unfortunately did not fall as quickly as most of us would have liked as a result of factors ranging from fighting in the Middle East to optimism over the ‘fiscal cliff’,” she said in a statement Wednesday.
AAA predicts gas prices will slowly drop through the end of the year and average between $3.20-$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.
Outside the city 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 Kane County, self-serve regular averaged $3.54, 23 cents lower than last month and 5 cents higher than November 2011.
In DuPage County, gasoline averaged $3.57, a 22-cent decrease from October but up 4 cents from last year.
Other monthly averages across the region include:
— In Cook County, self-serve regular averages $3.71, down 25 cents from last month and 8 cents higher than last year.
— In Lake County, self-serve regular averages $3.54, 23 cents lower than last month and up 7 cents from this time last year.
— In McHenry County, self-serve regular averages $3.50, 27 cents lower than last month and 6 cents higher than a year ago.