Peoria gas prices fall, lower than last year

Local News
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PEORIA, Ill. — Peoria gas prices have fallen 3.0 cents per gallon in the past week, averaging $2.76/g today, according to GasBuddy’s daily survey of 148 stations.

Gas prices in Peoria are 5.6 cents per gallon lower than a month ago, yet stand 23.6 cents per gallon lower than a year ago.

According to GasBuddy price reports, the cheapest station in Peoria is priced at $2.61/g today while the most expensive is $2.89/g, a difference of 28.0 cents per gallon. The lowest price in the state today is $2.49/g while the highest is $3.49/g, a difference of 100.0 cents per gallon. The cheapest price in the entire country today stands at $2.03/g while the most expensive is $5.19/g, a difference of $3.16/g. 

The national average price of gasoline has fallen 2.4 cents per gallon in the last week, averaging $2.82/g today. The national average is down 6.0 cents per gallon from a month ago, yet stands 14.1 cents per gallon lower than a year ago.

In 2018, Peoria gas prices averaged $3.00 per gallon, with the national average at $2.96 per gallon. 

Champaign saw a decrease in 12.2 cents per gallon from last week, while the average for Illinois remained unchanged from last week’s $2.85 per gallon.

These changes are typical for the season.

“With the summer driving season kicked off, gasoline prices have continued to moderate with nearly all areas off their 2019 high water mark with more declines on the way,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “While the next 90 days may see some bumps in the road here and there, most motorists will be greeted with prices under $3 per gallon for a majority of the summer.” 

DeHann says the biggest risk factors for rising gas prices this summer include unexpected refinery outages, a potential trade deal between the U.S. and China, and any rise in Middle East tensions, mainly between the U.S. and Iran. 

“Otherwise, expect this summer’s gas prices to be similar but lower than they were last year,” DeHann said.

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