PEORIA, Ill. (WMBD) — The weekly GasBuddy price update is showing that gas prices are on the rise in Peoria.
According to a survey of 148 gas stations in Peoria, the average gas price in Peoria is $3.87 a gallon, which is up an average of 4.7 cents from last week.
The cheapest gas in Peoria is reported as $3.68, and the most expensive has been reported as $4.09 a gallon. The average gas price in Illinois is $4.06 a gallon while the average gas price nationally is $3.65 a gallon.
“With oil prices touching their highest level of 2023 at nearly $83 per barrel, the national average price of gasoline has continued to inch higher, with 45 of the nation’s 50 states seeing prices rise over the last week. While the rising price of oil is likely the largest factor in rising gas prices, seasonal impacts continue to also exert pressure on prices,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “With the Northeast making the final step in the transition to summer gasoline this week, states in that region should expect a sharp rise in gasoline prices over the next week or two.
“Every other region has already seen the final step in the transition occur, so while other areas will see prices continue to slowly rise, the Northeast is likely to see a pretty hefty jump of 15-40 cents per gallon soon. Oil prices remain a wildcard, but we’re likely a few weeks away from seeing the national average peak. Whether it hits $4 per gallon or not is still perhaps a 50/50 chance,” he said.
More information on gas prices is available on GasBuddy’s website.