Gas Prices Up Since 2016

Local News

Filling up your gas tank is more expensive this year due to an uptick in gas prices.

Average retail gas prices in Peoria are 40 cents per gallon higher than one year ago.

Senior petroleum analyst Patrick DeHaan says consumers are spending more at the pump due to the rise in crude oil.

“ The price of Crude Oil is much higher, it’s all tied to OPEX decision back last November to cut oil production that caused oil prices to jump from $43 a barrel all the way to past $50  a barrel,” DeHaan said.

Similar to last year, analysts believe gas prices will continue to rise as much as 60 cents from mid February to Memorial Day.

“I expect over the next few weeks we will eventually see oil prices move higher but more so gas prices will continue moving higher eventually due to refinery maintenance and more expense summer gasoline that will enter the picture here in the next few weeks.”

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