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Chicago Area Gas Prices Spike Over $4 Per Gallon, Nearing Record

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Chicago is seeing additional market pressures that are contributing to the steep climb in local prices and may even mean record breaking prices according to petroleum analyst Patrick DeHaan.

The current record price for Chicago was set in July, 2008 when the average price of regular gasoline hit $4.35 per gallon.

"I would have to say it's a 50/50 chance we'll break that record," says DeHaan. "We may get close to a U.S. record price, but it's more likely we'll see a record in Chicago."

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