PEORIA, Ill. (WMBD) — Peorians once again are shelling out more at the gas pump as local prices rose 35.2 cents this week to average $3.60 per gallon Monday.
According to GasBuddy’s weekly survey of 148 stations in Peoria, gas prices are 33.7 cents per gallon higher than one month ago, and 17.3 cents per gallon higher than this day in 2021.
The cheapest gas price in the Peoria area on Sunday was listed at $3.26 per gallon, while the most expensive price was 63 cents higher at $3.89 per gallon.
Comparatively, the Quad Cities’ average price per gallon in $3.32, up from last week’s $3.20. The average price in the Champaign area is $3.33 per gallon, up from last week’s average of $3.27.
Across the state, the lowest price on Sunday was listed at $2.99 per gallon. The most expensive listed price was $4.49, a difference of $1.50 per gallon. The statewide average is $3.52 per gallon, 3.8 cents higher than last week’s average of $3.48.
The national average price per gallon has risen 11.3 cents this week to average $3.39 Monday.
Experts are not optimistic about the upward trend in gas prices seen over the past few weeks.
“Gasoline prices continued their upward trajectory last week as oil prices pulled them higher across the majority of the country, and continued refinery challenges kept supply of gasoline from rising more substantially,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “Macroeconomic factors have continued to weigh on oil and refined products, as strong demand in China hasn’t been slowed much by a surge in new Covid cases. In addition, releases of crude oil from the Strategic Petroleum Reserve have wrapped up. Concerns are increasing that without additional oil, supply will tighten in the weeks ahead, especially as the nation starts to move away from softer demand in the height of winter. Moving forward, it doesn’t look good for motorists, with prices likely to continue accelerating.”
The price of diesel also rose this week, averaging $4.60 per gallon nationally.