11/03/2008 05:12 am ET Updated May 25, 2011

Chicago Gas Prices Drop

Gasoline prices in the Chicago area are down more than 35 cents from mid-September and aren't expected to spike again over the next few months.

The average price of unleaded regular gasoline was $3.902 Thursday, according to AAA-Chicago Motor Club. That's down from $4.257 a gallon Sept. 17, as prices soared after Hurricanes Ike and Gustav and hit $4.59 at some local stations.

Credit a weak economy and weak demand. "It's pretty obvious things have tightened in the economy," and that's slowed demand for oil and gas, pushing prices down at the pump, said Morningstar Inc. senior equity analyst Justin Perucki.

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