PEORIA, Ill. (WMBD) — A seasonal drop in demand for gas is reflected at the pump, as the average gas price in Peoria fell 1.7 cents this week to average $4.26 per gallon Monday.
According to GasBuddy’s weekly survey of 148 stations in Peoria, gas prices are 49 cents per gallon higher than one month ago, and 75.6 cents per gallon higher than this day in 2021.
The cheapest gas price in the Peoria area on Sunday was listed at $4.09 per gallon, while the most expensive price was 40 cents higher at $4.49 per gallon.
Comparatively, the Quad Cities’ average price per gallon in $3.69, down from last week’s $3.73. The average price in the Champaign area is $4.10 per gallon, down from last week’s average of $4.16.
Across the state, the lowest price on Sunday was listed at $3.43 per gallon. The most expensive listed price was $5.87, a difference of $2.44 per gallon. The statewide average is $4.20 per gallon, 9.8 cents cheaper than last week’s average of $4.30.
The national average price per gallon has fallen 9.3 cents this week to average $3.77 Monday.
Many regions could see falling gas prices again this week as demand continues to decline seasonally, especially if more data points to a significant economic slowdown, according to Patrick De Haan, head of petroleum analysis at GasBuddy.
“Average gas prices have declined for the second straight week with significant declines in the West and Great Lakes having an oversized effect on the drop in the national average,” said De Haan. “Motorists are reminded that the decline in gasoline prices is seasonal and should continue into the fall, and is unrelated to the coming election. Seasonality is king in driving prices, not the desires or hopes of politicians.”
The price of diesel continues to increase, averaging $5.30 per gallon nationally.