PEORIA, Ill. (WMBD) — Peoria gas prices fell slightly in the last week, averaging $3.42 per gallon Monday.
According to GasBuddy’s weekly survey of 148 stations in Peoria, the price of a gallon fell 0.6 cents in the past week. Gas prices in Peoria are 1.2 cents per gallon higher than a month ago.
The cheapest gas price in the area is listed at $3.19 while the most expensive price is listed at $3.69 per gallon, a difference of 50 cents per gallon.
Comparatively, gas prices across the state average $3.46 per gallon, up 4.7 cents from last week’s price. Champaign’s average price fell to $3.39 per gallon, and in the Quad Cities, the average price rose to $3.24 per gallon.
GasBuddy Petroleum Analysis Head Patrick De Haan said in spite of weaker gasoline demand, average gas prices increased in most states last week as oil prices remained high. He said it is a reflection of how concerned oil markets are about unrest in oil-producing nations.
“With all eyes on the Russia/Ukraine situation, oil will likely remain north of $80 per barrel, with additional volatility. Prices could rise even more significantly if there is any further deterioration in the situation,” De Haan said in a blog post.
For now, De Haan does not expect any immediate fireworks at the pump, but he said the trend of rising gas prices will likely continue as worries continue to overpower weak global consumption.