PEORIA, Ill. (WMBD) — Gas prices have been declining for nearly two months, and Peorians are seeing some relief as the average gas price in the city fell 13.3 cents this week to an average of $4.45 per gallon Monday.
According to GasBuddy’s weekly survey of 148 stations in Peoria, gas prices are 66.8 cents per gallon cheaper than one month ago, while still $1.09 per gallon higher than this day in 2021.
The cheapest gas price in the Peoria area on Sunday was listed at $4.19 per gallon, while the most expensive price was 68 cents higher at $4.87 per gallon.
Comparatively, the Quad Cities’ average price per gallon in $3.95, down from last week’s $4.24. The average price in the Champaign area is $4.29 per gallon, down from last week’s average of $4.45.
Across the state, the lowest price on Sunday was listed at $3.64 per gallon. The most expensive listed price was $5.99, a difference of $2.35 per gallon. The statewide average is $4.61 per gallon, 20.9 cents cheaper than last week’s average of $4.82.
This is the seventh straight week of declining prices, and experts say it could continue.
“The outlook is for a continued drop in most areas, however, some supply tightness in areas of the Northeastern U.S. could push prices up slightly until inventories rise, or imports do,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “For now, Americans are seeing prices nearly 90 cents lower than their mid-June peak and are spending close to $330 million less on gasoline every day as a result. As long as oil prices hold at these levels or lower, we’ll see another decline in most areas this week.”
The national average this week is down to $4.17 per gallon, down 15.9 cents per gallon from one week ago. Today’s average is 65.5 cents down from the average price one month ago, but still $1.02 per gallon higher than one year ago.
Nearly 20 states have seen their average price of gas drop below $4 per gallon.
The price of diesel has also declined 14.8 cents nationally in the past week and stands at an average of $5.27 per gallon.