(Bloomberg) -- Chicago Mayor Lori Lightfoot will dedicate $12.5 million of city and federal stimulus funds to help residents deal with surging gas prices.
The city of 3 million people will give away 50,000 prepaid $150 gas cards and 100,000 $50 Chicago Transit Authority cards. Residents must have a household income at or below 140% of the area median income to qualify.
Applications will start April 27. The gas cards will be given away via lottery, while the transit cards will be allotted to residents in low-income areas.
“There has been a shocking rise in gas prices across our city and really across our region and country,” Lightfoot said during a briefing Thursday. “We are going to try and make it as painless as possible.”
The average U.S. price for a gallon of regular gasoline is about $4.23 as of Thursday, according to the American Automobile Association. In Illinois, the average is $4.46, up from $3.08 a year ago.
Chicagoans are paying an average of 4.5% of their annual income at the pump, compared to 3.1% a year ago, according to a statement from Lightfoot's office.
Lightfoot said the city is looking at other ways to provide relief to residents, and also is considering ways to assist taxi and ride-share drivers.
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