Gas prices, demand rising in Central Illinois

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In this June 26, 2019 photo, a man adds fuel to his vehicle with the price of gas displayed at the pump at a gas station in Orlando, Fla. On Thursday, July 11, the Labor Department reports on U.S. consumer prices for June. (AP Photo/John Raoux)

PEORIA, Ill. (WMBD) — Gas prices increased slightly in Peoria with the summer driving season underway, putting the average price per gallon at $3.27.

According to GasBuddy’s weekly survey of 148 stations in Peoria, the price of a gallon went up 5.2 cents over the past week. Gas prices in Peoria are 8.4 cents per gallon higher than a month ago.

The cheapest gas price in the area is priced at $2.93 while the most expensive price is $3.49 per gallon, a difference of 56 cents per gallon.

Comparatively, gas prices across the state average $3.28 per gallon, up 2.6 cents from last week’s price. Champaign’s average price also rose to $3.25 per gallon, and over in the Quad Cities, the average price dropped to $3.01 per gallon.

GasBuddy Petroleum Analysis Head Patrick De Haan said the national average gas price continues to rise with oil prices reaching $71 per barrel, the highest since 2018, all while gas demand continues to rebound.

“Strong gasoline demand as states and cities reopen will likely continue to be a major factor keeping gas prices elevated even as oil production climbs in the months ahead. With most additional supply being gobbled up very quickly, gas prices will likely stay at elevated levels for the foreseeable future. Motorists can continue to fight the high gas prices by remembering to shop around each time they get below half a tank,” De Haan said in a blog post.

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