Gas prices drop slightly in Peoria, average $3.33 per gallon

Local News

PEORIA, Ill. (WMBD) — Gas prices in Peoria saw another decrease as the nation approaches the end of the summer driving season, putting the average price per gallon at $3.33.

According to GasBuddy’s weekly survey of 148 stations in Peoria, the price of a gallon went down 1.9 cents over the past week. Gas prices in Peoria are 0.4 cents per gallon higher than a month ago.

The cheapest gas price in the area is priced at $2.95 while the most expensive price is $3.59 per gallon, a difference of 64 cents per gallon.

Comparatively, gas prices across the state average $3.29 per gallon, down 3.4 cents from last week’s price. Champaign’s average price also fell to $3.26 per gallon, and over in the Quad Cities, the average price dropped to $3.06 per gallon.

GasBuddy Petroleum Analysis Head Patrick De Haan said oil prices are under pressure due to some countries instituting travel and movement limitations as the number of COVID-19 cases continues to surge across the world.

“This limits oil demand, which has led to the increase in gas prices slowing, and many states seeing slight drops compared to prices a week ago,” De Haan said in a blog post.

De Haan also said the tropics are heating up, which could be a source of upward pressure on gas prices should a major hurricane target the Gulf Coast.

“However, without such a storm, gas prices may see some stability over the coming week or two, before slowly decreasing as the summer driving season wraps up,” De Haan said.

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