PEORIA, Ill. (WMBD) — Gas prices are starting to drop in Peoria this week, putting the average price per gallon at $3.02.
According to GasBuddy’s weekly survey of 148 stations in Peoria, the price of a gallon went down two cents over the past week.
The cheapest gas price in the area is priced at $2.75 while the most expensive price is $3.29 per gallon, a difference of 54 cents per gallon.
Comparatively, gas prices across the state average $3 per gallon, up 1.6 cents from last week’s price. Champaign’s average price fell to $3 per gallon as well, and over in the Quad Cities, the average price fell to $2.82 per gallon.
GasBuddy Petroleum Analysis Head Patrick De Haan said gas prices stayed largely stable in the last week across much of the country, except for the West Coast, where prices in some areas continue to advance, mainly in California as summer gasoline and healthy demand have boosted prices.
For everyone else, he said we are far removed from the fast pace of increases we saw earlier this year.
“Gasoline demand has given up ground for the second straight week, likely due to some areas seeing a rise in coronavirus cases, and as spring break plans conclude. The next trend in gas prices isn’t evident just yet, we may see additional slight sideways moves in the weeks ahead, until either demand starts to increase notably again, or we see the opposite.” De Haan said in a blog post.
AAA spokesperson Jeanette McGee said refinery utilization is nearly back to pre-pandemic levels, and with gasoline stocks seeing builds in the last month amid lower crude oil prices, drivers have benefited from mostly flat gas prices. However, she said not to get too comfortable with stable gas prices.
“Crude started to see some upward movement this week, which could translate to small increases at the pump by the end of April,” McGee said.