By Marni Pyke

Just when you thought it was safe to plan a road trip to California, gas prices are spiking in the Chicago region, causing a nervous tic in drivers haunted by the days of $4.24 a gallon for regular…

… Argonne National Laboratory energy researcher Don Hillebrand is familiar with seasonal price variations, but he raises his eyebrows at “that big of a price jump.”

In late 2014, when the bottom dropped out of oil prices, “it caught everybody by surprise … so it’s a bit of a natural rebound,” said Hillebrand, director of Argonne’s Center for Transportation Research. “(Gas) is so inexpensive, companies are realizing there’s room to price it up a little.”

Overall, analysts predict the national average won’t surpass $3 a gallon this summer. That’s due in part to increased production, meaning a surplus supply of domestic oil, and lowered demand as vehicles grow increasingly fuel-efficient.

“We’re in an unusual situation where stocks of oil and gas are at an 80-year high,” Hillebrand said…

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Areas of Focus: Energy Markets
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Energy Markets
Well-functioning markets are essential for providing access to reliable, affordable energy. EPIC research is uncovering the policies, prices and information needed to help energy markets work efficiently.
Fossil Fuels
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Fossil Fuels
Under current policies, fossil fuels will play an important role in the energy system for the foreseeable future. EPIC research is exploring the costs and benefits of these fuels as...
Climate Change
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Climate Change
Climate change is an urgent global challenge. EPIC research is helping to assess its impacts, quantify its costs, and identify an efficient set of policies to reduce emissions and adapt...
Climate Economics
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Climate Economics
Climate change will affect every sector of the economy, both locally and globally. EPIC research is quantifying these effects to help guide policymakers, businesses, and individuals working to mitigate and...
Transportation
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Transportation
Mobility is central to economic activity. Yet, a lack of fuel diversity and continued demand growth have made the transportation industry a major contributor to global pollution and carbon emissions....
Fossil Fuels
Definition
Fossil Fuels
Under current policies, fossil fuels will play an important role in the energy system for the foreseeable future. EPIC research is exploring the costs and benefits of these fuels as...
Transportation
Definition
Transportation
Mobility is central to economic activity. Yet, a lack of fuel diversity and continued demand growth have made the transportation industry a major contributor to global pollution and carbon emissions....