PEORIA, Ill. (WMBD) — Gas prices are taking a welcome downtown ahead of the holidays, with Peoria’s average price per gallon falling 16 cents this week to average $3.95 per gallon Monday.
According to GasBuddy’s weekly survey of 148 stations in Peoria, gas prices are 33.1 cents per gallon lower than one month ago, but still 40.2 cents per gallon higher than this day in 2021.
The cheapest gas price in the Peoria area on Sunday was listed at $3.72 per gallon, while the most expensive price was 77 cents higher at $4.49 per gallon.
Comparatively, the Quad Cities’ average price per gallon in $3.54, down from last week’s $3.64. The average price in the Champaign area is $3.85 per gallon, down from last week’s average of $3.93.
Across the state, the lowest price on Sunday was listed at $2.99 per gallon. The most expensive listed price was $5.87, a difference of $2.88 per gallon. The statewide average is $3.97 per gallon, 16.5 cents cheaper than last week’s average of $4.14.
The national average price per gallon has fallen 11.9 cents this week to average $3.64 Monday.
This week’s decline comes as a welcome surprise ahead of the holidays, and experts expect prices to continue to decline.
“What an incredible turnaround in the last week. While a decline was expected in more states than last week, I didn’t expect every single state to hop on the bandwagon so quickly. But, it’s terrific news as motorists prepare for Thanksgiving travel, with tens of thousands of stations under $3 per gallon, and thousands more to join in the next few weeks, barring a dramatic turnaround,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “Everyone will be seeing relief at the pump this week. It’s not impossible that if oil markets hold steady, we could see a national average of $2.99 around Christmas, certainly the gift that every motorist is hoping for. Drivers shouldn’t be in a rush to fill up as prices will come down nearly coast-to-coast into the heavily traveled Thanksgiving holiday.”
The price of diesel also declined slightly this week, averaging $5.28 per gallon nationally.