Gas prices continue to rise in Peoria

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PEORIA, Ill. (WMBD) — The weekly GasBuddy survey reported Peoria gas prices rose 1.1 cents per gallon in the past week, which is 13.1 cents per gallon higher than a month ago.

The survey showed average gas prices in Peoria currently at $2.39 per gallon, while the cheapest gas price sits at $2.18 per gallon and the most expensive gas price staying around $2.59 per gallon, a difference of 41 cents.

GasBuddy Petroleum Analysis Head Patrick De Haan said average gas prices are continuing to rise in most areas as retail gas prices are still following the rising price of crude oil, which remains near the highest level since COVID-19 began in March.

“Seasonal factors have sat in the backseat compared to a modest recovery in demand and a healthy dose of optimism that a COVID-19 vaccine will bring normal demand levels in the coming year,” De Haan said.

“For now, it’s not the best news for motorists as I expect gas prices may continue their ascent, but while it won’t last forever, it’s likely a sign of what’s to come in 2021 — higher prices. The year ahead will be likely marked by recovery in the pandemic and rising demand, and for motorists interested in what’s coming to the pump GasBuddy will be releasing our 2021 Fuel Price Outlook in the days ahead, which will hopefully give motorists some idea of what to plan for in terms of pain at the pump.”

Comparatively, gas prices across the state average $2.35 per gallon. Champaign’s average price is $2.25 per gallon. Over in the Quad Cities, the average price rose to $2.14 per gallon.

The national average gas price also rose, averaging $2.25 per gallon.

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