Average gas price falls in Peoria

Local News

PEORIA, Ill. (WMBD) — A survey from GasBuddy shows gas prices in Peoria have dropped 0.9 cents per gallon in the last week.

The survey shows the average gas price in Peoria sitting at $2.40 per gallon. The cheapest gas price in the city remained steady at $2.29 per gallon while the most expensive gas price dropped to $2.59 per gallon, a price difference of 30 cents.

Screen capture of GasBuddy live ticking average July 27, 2020

GasBuddy petroleum analysis head Patrick De Haan said while data showed a small rebound in gasoline demand, oil prices failed to break out, leading to another week of little change at the pump.

“We remain stuck in neutral when it comes to gasoline prices,” De Haan said.

“It’s a bit too early to tell if the small rise in gasoline demand last week will continue into this week, but it does seem the most likely situation. The V-shaped recovery in gasoline demand has been put on hold for nearly all of July as coronavirus cases surged, but once we recover from that and we see demand show several weeks of recovery, we’ll likely see gas prices begin to tick higher. For now, however, that gives motorists more time to fill up without having to worry about big jumps in prices.”

Comparatively, gas prices across the state average around $2.28 per gallon, and in Champaign, the average price is $2.30 per gallon. In the Quad Cities, the average price is as low as $2.16 per gallon.

The national average gas price fell 2.5 cents per gallon in the last week, averaging $2.17 per gallon.

Peoria County (Red) averaging $2.447 per gallon compared to neighboring areas Marshall County (Orange) averaging $2.399, Tazewell County (Green) averaging $2.385, Woodford County (Light Blue) averaging $2.357, and Stark County (Dark Blue) averaging $2.447

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