Gas prices continue steady rise in Peoria, average $3.51

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PEORIA, Ill. (WMBD) — Drivers may be paying a bit more at the gas pumps in Peoria this week.

According to GasBuddy’s weekly survey of 148 stations in Peoria, the price of a gallon rose 7.9 cents over the past week. Gas prices in Peoria are 19.3 cents per gallon higher than a month ago.

The cheapest gas price in the area is listed at $3.19 while the most expensive price is listed at $3.75 per gallon, a difference of 56 cents per gallon.

Comparatively, gas prices across the state average $3.50 per gallon, up 8.3 cents from last week’s price. Champaign’s average price also rose to $3.46 per gallon, and in the Quad Cities, the average price rose to $3.24 per gallon.

AAA Spokesperson Andrew Gross said the surge in gas prices is not keeping people away from the gas pump.

“With the U.S. economy slowly recovering from the depths of the pandemic, demand for gas is robust, but the supply is tight,” said Andrew Gross, AAA spokesperson. “We haven’t seen prices this high since September 2014.”

GasBuddy Petroleum Analysis Head Patrick De Haan said while gas prices have been rising across the nation for the last three weeks, he suspects prices will start to slow down as they catch up to the price of oil.

“Gas prices continued to soar in a majority of the nation over the last week as oil’s meteoric rise pulls gasoline and other refined product prices higher. But, there may be some light at the end of the tunnel,” De Haan said in a blog post.

“The sharp rise we’ve seen over the last three weeks should begin slowing down soon, barring another jump in the price of oil. This is because gasoline prices have now largely caught up to the jump in oil that started nearly a month ago. This isn’t an all clear for the future, however, as oil prices could rise again at any time. But for now, oil has held around $83 per barrel, and without a further climb, gas price increases should slow down soon in the bulk of the nation.”

Patrick De Haan, GasBuddy Petroleum Analysis Head

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