PEORIA, Ill. (WMBD) — Gas prices have declined for the eighth straight week as the average gas price in the city fell 24.7 cents this week to an average of $4.21 per gallon Monday.
According to GasBuddy’s weekly survey of 148 stations in Peoria, gas prices are 71.0 cents per gallon cheaper than one month ago, and only 84.6 cents per gallon higher than this day in 2021.
The cheapest gas price in the Peoria area on Sunday was listed at $3.88 per gallon, while the most expensive price was 81 cents higher at $4.69 per gallon.
Comparatively, the Quad Cities’ average price per gallon in $3.90, down from last week’s $3.95. The average price in the Champaign area is $4.11 per gallon, down from last week’s average of $4.29.
Across the state, the lowest price on Sunday was listed at $3.39 per gallon. The most expensive listed price was $5.99, a difference of $2.60 per gallon. The statewide average is $4.39 per gallon, 22.2 cents cheaper than last week’s average of $4.61.
The average price in Peoria as well as the average price statewide are still above the national average.
The national average this week is down to $4.01 per gallon, down 15.8 cents per gallon from one week ago. Monday’s average is 68.7 cents down from the average price one month ago, and only 83.6 cents per gallon higher than one year ago.
Per GasBuddy’s predictions, the national average is poised to fall under $4 per gallon as early as Monday, and 100,000 gas stations across the state will be under $4 per gallon by the end of the week.
“Diesel continues to decline as well, and will likely soon fall under $5 per gallon,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “The groundwork is laid for a ninth week of decline, with areas of the West Coast soon ditching the $5 per gallon average. While I’m upbeat the drop can continue for another couple weeks, we’re starting to see some activity in the tropics, which may increase risk of potential disruption.”
The price of diesel has declined 13.1 cents nationally in the past week and stands at an average of $5.14 per gallon.