PEORIA, Ill. (WMBD) — With national gas prices starting to stabilize after eight consecutive weeks of drops, gas prices in Peoria fell slightly, averaging $3.37 per gallon.
According to GasBuddy’s weekly survey of 148 stations in Peoria, the price of a gallon dropped 3.1 cents in the past week. Gas prices in Peoria are 16.3 cents per gallon lower than a month ago.
The cheapest gas price in the area is listed at $3.12 while the most expensive price is listed at $3.69 per gallon, a difference of 57 cents per gallon.
Comparatively, gas prices across the state average $3.32 per gallon, down two cents from last week’s price. Champaign’s average price fell to $3.19 per gallon, and in the Quad Cities, the average price rose to $3.12 per gallon.
GasBuddy Petroleum Analysis Head Patrick De Haan said gas prices across the nation are starting to stabilize after a long run of falling gas prices.
“Oil prices have started to rise as omicron hasn’t been as severe as initially feared, leading to optimism that perhaps oil demand will start to rise in the weeks ahead as cases will eventually plateau,” De Haan said in a blog post.
Last week, De Haan said Great Lakes states were expected to see a gas price hike, but it has not happened yet. Instead, De Haan said he thinks the price hike will happen this week and push the national average gas price higher.
“For the rest of the nation, with oil near $76 per barrel, we will likely see gas price decreases replaced by minor price increases,” De Haan said.