Peoria gas prices lowering, but still higher than last year

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PEORIA, Ill. — Peoria gas prices have fallen 4.9 cents per gallon in the past week, according to GasBuddy’s daily survey.

The city’s gas prices are averaging $2.58/g on Monday. They are 2.4 cents per gallon higher than a month ago and stand 42.2 cents per gallon higher than a year ago.

According to GasBuddy price reports, where 148 gas stations were surveyed, the cheapest station in Peoria is priced at $2.37/g while the most expensive is $2.79/g, a difference of 42.0 cents per gallon. The lowest price in the state is $2.25/g while the highest is $3.34/g, a difference of $1.09/g.

“Gasoline prices have now slid to their lowest level since March thanks to rising U.S. gasoline inventories and sluggish demand, certainly bringing some Christmas cheer to motorists,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “The jump in gasoline inventories has been so large it has offset oil prices which touched $60 per barrel last week, as well as the U.S. and China suggesting they’ve reached a trade deal.

Neighboring areas and their current gas prices:

  • Quad Cities- $2.46/g, down 2.7 cents per gallon from last week’s $2.49/g
  • Champaign- $2.52/g, up 6.4 cents per gallon from last week’s $2.46/g

The cheapest price in the entire country currently stands at $1.88/g while the most expensive is $4.99/g, a difference of $3.11/g.

The national average price of gasoline has fallen 3.0 cents per gallon in the last week, averaging $2.55/g on Monday. The national average is down 5.5 cents per gallon from a month ago and stands 19.3 cents per gallon higher than a year ago.

Copyright 2020 Nexstar Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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