PEORIA, Ill. (WMBD) — Gas prices have dropped 4.4 cents a gallon since last week.
According to a survey of 148 local stations in Peoria, gas prices are averaging at $3.56 a gallon. These prices are about 17 cents lower than a month ago and $1.61 lower than a year ago.
The cheapest gas in Peoria is currently $3.14 a gallon, and the most expensive gas was $3.99 a gallon. According to GasBuddy, the cheapest gas in Illinois was also priced at $3.14 a gallon.
The average gas price in Illinois is $3.85 a gallon, and the average price across the U.S. was $3.51.
“While the national average drifted lower last week as oil prices cooled off, the drop may be temporary. OPEC+ agreed Sunday to additional production cuts, while Saudi Arabia is going above and beyond and cutting July production. As a result, oil prices are likely to see upward pressure as global supplies, which have remained tight, promise to become even tighter as a result,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
More information is available here.
