PEORIA, Ill. – Gas prices in Peoria are continuing to decline, but drivers are still paying significantly more at the pump than they were a year ago.
According to GasBuddy’s weekly survey of 148 stations in Peoria, the average price of gasoline fell 8.9 cents over the past week to $4.68 per gallon.
That’s four cents lower than a month ago, but $1.54 higher than this time last year, when drivers were paying an average of $3.14 per gallon.
GasBuddy reports the cheapest gasoline in Peoria was $4.35 per gallon on Sunday, while the most expensive was $4.99, a difference of 64 cents.
Prices are also falling nationally.
The national average dropped 17.1 cents over the past week to $4.12 per gallon. That’s nearly 25 cents lower than a month ago, although prices remain $1.13 higher than a year ago.
Across Illinois, the average price fell nearly 20 cents over the past week to $4.69 per gallon.
Diesel prices have also declined, with the national average falling 5.9 cents over the past week to $6.28 per gallon.
Patrick De Haan, head of petroleum analysis at GasBuddy, says the declines are being driven by reduced seasonal demand and the completion of refinery maintenance.
“Average gasoline prices fell in nearly every state over the last week, while diesel declined in most, as refinery maintenance wraps up and seasonal demand continues to fade with the onset of cooler weather,” De Haan said.
However, De Haan warns that prices could become volatile again as geopolitical tensions continue to affect global oil markets.
He pointed to uncertainty surrounding the Strait of Hormuz and Ukrainian strikes on Russian refineries as factors that could influence fuel prices heading into the holiday season.
Despite the recent declines, Peoria drivers are still paying considerably more than in previous years.
According to GasBuddy, the average price in Peoria on November 2 was $3.25 in 2024, $3.46 in 2023 and $4.24 in 2022.
GasBuddy compiles its weekly averages using price reports from stations across the country.
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