Gas prices in Peoria rising slightly despite state, national price trending downward

Local News

PEORIA, Ill. (WMBD) — Gas prices are rising slightly in Peoria this week, putting the average price per gallon at $3.04, all while both the state and national average gas price fell for the fourth week in a row.

According to GasBuddy’s weekly survey of 148 stations in Peoria, the price of a gallon rose 0.4 cents over the past week. The average price rose 2.6 cents since March.

The cheapest gas price in the area is priced at $2.79 while the most expensive price is $3.29 per gallon, a difference of 50 cents per gallon.

Comparatively, gas prices across the state average $2.98 per gallon, down 3.5 cents from last week’s price. Champaign’s average price rose to $3.02 per gallon, and over in the Quad Cities, the average price rose to $2.83 per gallon.

GasBuddy Petroleum Analysis Head Patrick De Haan said it has been a tame last few weeks at the pump for most areas in the country after a particularly active February and March when prices were soaring.

“After surging back then, we’ve seen the price increases fade, and while we haven’t seen much of a decline, prices have been holding near their yearly highs. For now, it feels like the risk of seeing the national average climb to $3/gal has been delayed by a recent surge in COVID-19 cases both here and abroad, limiting the upside to gasoline demand, but should things begin to improve, especially as we get closer to the start of the summer, we still have potential to see summer gas prices at their highest levels in years,” De Haan said in a blog post.

AAA spokesperson Jeanette McGee agreed and said drivers are seeing a bit of stability at the pump.

“On the week, 40 states’ averages either increased or decreased by only a penny, or had no change at all. Cheaper crude oil prices will likely help to keep price fluctuation low this week,” McGee said.

De Haan said prices could still fluctuate based on how the country continues to handle the COVID-19 pandemic.

“Make no mistake, gas prices this year will be tied to the hip of the COVID situation,” De Haan said.

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