PEORIA, Ill. (WMBD) — The weekly GasBuddy survey shows gas prices rose 1.9 cents in Peoria, and while two tropical storms are headed towards a major area for the oil industry, experts say those storms should not have a major impact.
The survey indicated average gas prices are currently at $2.40 per gallon, while the cheapest gas price sits at $2.24 per gallon and the most expensive gas price staying around $2.59 per gallon, a difference of 35 cents.
GasBuddy petroleum analysis head Patrick De Haan said all eyes are on the Gulf of Mexico, as two tropical systems head toward it. He said while these storms bear monitoring, they are unlikely to have a major impact on gas prices that for the eighth straight week have been mostly quiet.
“While Hurricane Marco and likely-soon-to-be Hurricane Laura churn in the Atlantic, current forecasts show limited ability for them to turn into a major hurricane, which means that motorists need not panic about gasoline supply or price,” De Haan said.
“We should be able to weather both of these storms, barring a major increase in peak intensity. In addition, with gasoline demand still weak due to COVID-19, there’s ample capacity for refineries that are not in the path of the storms to raise output should the situation warrant it.”
Comparatively, gas prices across the state average around $2.29 per gallon, up 3.5 cents from last week’s average. Champaign’s average price is $2.24 per gallon. Over in the Quad Cities, the average price dropped to $2.06 per gallon.
The national average gas price stayed steady in the last week, averaging $2.16 per gallon.
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