Gas prices start to fall in Peoria, average $3.53 per gallon

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PEORIA, Ill. (WMBD) — Gas prices look like they are starting to top off in Peoria, averaging $3.53 per gallon.

According to GasBuddy’s weekly survey of 148 stations in Peoria, the price of a gallon fell 2.6 cents in the past week. Gas prices in Peoria are 11.2 cents per gallon higher than a month ago.

The cheapest gas price in the area is listed at $3.18 while the most expensive price is listed at $3.75 per gallon, a difference of 57 cents per gallon.

Comparatively, gas prices across the state average $3.49 per gallon, down 5.4 cents from last week’s price. Champaign’s average price fell to $3.42 per gallon, and in the Quad Cities, the average price dropped to $3.25 per gallon.

AAA Spokesperson Andrew Gross said seasonal driving habit changes could have caused a small drop in gas prices, which is contributing to a bit of price relief for drivers at the pump.

“Unfortunately, the ongoing tight supply of crude oil will likely keep gas prices fluctuating, instead of dropping, for some time,” Gross said.

GasBuddy Petroleum Analysis Head Patrick De Haan said the national average price of gasoline posted its first weekly decline in months Sunday evening.

With the price of oil still struggling to stabilize, COVID-19 cases flaring up, and anxiety over demand beginning to rise, De Haan said drivers will likely see the decline in price stick around.

“While it’s not known how long market conditions will continue to push gas prices down, it appears that the fall should last through Thanksgiving, just in time for millions of Americans to prepare to hit the road for the holiday. However, the damage may already be done. According to GasBuddy’s Thanksgiving Travel Survey, being released tomorrow, a significant portion of Americans say the high gas prices already led them to re-think their plans,” De Haan said in a blog post.

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