Gas prices rise slightly, average $3.34 per gallon

Local News

PEORIA, Ill. (WMBD) — Gas prices rose slightly in Peoria as the summer driving season continues, putting the average price per gallon at $3.26.

According to GasBuddy’s weekly survey of 148 stations in Peoria, the price of a gallon went up six cents over the past week. Gas prices in Peoria are 8.2 cents per gallon higher than a month ago.

The cheapest gas price in the area is priced at $2.89 while the most expensive price is $3.49 per gallon, a difference of 60 cents per gallon.

Comparatively, gas prices across the state average $3.33 per gallon, up 6.7 cents from last week’s price. Champaign’s average price also rose to $3.30 per gallon, and over in the Quad Cities, the average price stayed at $3.11 per gallon.

GasBuddy Petroleum Analysis Head Patrick De Haan said across the nation, gas prices fluctuated last week, but he said it should not have too much of an impact on the average.

“Gas prices across the country have been a bit sideways in the last week with a mixed bag of decreases and increases, but overall, the national average hasn’t seen much meaningful direction as oil prices remain under their early-July levels thus far thanks to OPEC coming to an agreement on production over the weekend,” De Haan said.

“OPEC’s plan is to raise oil production by 400,000 bpd each month until 2022, at which time OPEC’s oil production will be back at pre-COVID levels. It’s a positive development in light of U.S. gasoline demand which last week rose nearly 2%, which should act as a loose ceiling on the price of oil, and could mean we’re even closer to seeing a peak in the national average if we haven’t already.”

AAA spokesperson Jeanette McGee said high crude oil prices played a big role in the elevated price of gasoline this summer.

“It’s a cruel summer at the gas pump with prices showing little signs of relief,” McGee said. “However, the more expensive prices aren’t stopping motorists from filling up based on strong gasoline demand numbers.”

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