Peoria gas prices continue downward trend, average $3.37

Local News

PEORIA, Ill. (WMBD) — As the nation’s average gas price fell for the seventh consecutive week, gas prices in Peoria also fell.

According to GasBuddy’s weekly survey of 148 stations in Peoria, the price of a gallon dropped 6.9 cents in the past week. Gas prices in Peoria are 14,2 cents per gallon lower than a month ago.

The cheapest gas price in the area is listed at $3.15 while the most expensive price is listed at $3.69 per gallon, a difference of 54 cents per gallon.

Comparatively, gas prices across the state average $3.33 per gallon, down 6.3 cents from last week’s price. Champaign’s average price fell to $3.24 per gallon, and in the Quad Cities, the average price dropped to $3.10 per gallon.

GasBuddy Petroleum Analysis Head Patrick De Haan said almost every state saw average gasoline prices decline last week, just in time for the millions of American drivers who did holiday traveling. He said the national average now is almost 20 cents per gallon lower than in early November.

“While the fall in prices is welcomed, we set an ugly new record for the holiday– it was the most expensive Christmas Day we’ve ever seen by two-tenths of a penny,” De Haan said in a blog post.

While drivers can appreciate the drop in gas prices, De Haan said states near the Great Lakes should not expect falling gas prices to persist.

“Gas prices are likely to jump in the Great Lakes due to a behavior called price cycling, caused by a rise in the wholesale price of gasoline against a backdrop of prices in the region that have now fallen under replacement cost. This will trigger a likely jump in gas prices in Michigan, Indiana, Ohio, Illinois, and Kentucky very soon,” De Haan said.

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