PEORIA, Ill. – Average gas prices in Peoria have dropped 2.4 cents a gallon in the last week, averaging $3.34 on Monday, according to GasBuddy’s survey of 148 stations in Peoria.
Prices in Peoria are 6.3 cents higher than a month ago, and 31.2 cents lower than a year ago.
According to GasBuddy price reports, the cheapest gas in Peoria on Sunday was $3.19 a gallon, while the most expensive gas was $3.49. The lowest price in the state was $2.45, while the highest price for gas in Illinois was $4.49.
The national average price of unleaded gas has dropped 5.3 cents a gallon in the last week, averaging $3.09 on Monday.
“Nearly every state saw average gas prices decline for the second straight week, even as the nation celebrated July 4 with the lowest national average for Independence Day since 2020,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
“That downward momentum may continue, as OPEC’s weekend decision to boost production by a larger-than-expected 548,000 barrels per day in August adds further pressure to oil prices— potentially accelerating supply builds. If tensions in the Middle East remain contained and the Gulf is spared from major hurricanes, the odds are improving that the national average could dip below $3 per gallon later this summer, but in the meantime we could see the national average falling to its lowest summer level since the pandemic,” DeHaan said.
Meanwhile, AAA Illinois said on Monday that the average price of gas in the Peoria/Pekin metro area was $3.33 a gallon, the state average was $3.41, and the national average price of gas was $3.14.
Comments