Average retail gas prices in Peoria have risen 7.4 cents per gallon in the past week, according to a release Monday by GasBuddy.com. Prices were 41.8 cents per gallon lower than a year ago but 9.2 cents per gallon higher than a month ago. Senior Petroleum Analyst Patrick DeHaan, after weeks of stable prices, prices are the highest they have been since mid October. DeHaan says we be entering the beginning of March Madness in gas prices when you see large spikes in prices. Prices may rise 35 to 50 cents per gallon by the time gasoline prices peak in April or May ahead of the start of the summer driving season and the switch to more expensive, cleaner burning fuel.
Copyright 2015 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.