PEORIA, Ill. (WMBD) — As gas prices in Peoria rose 10.9 cents in the last week, averaging $4.84 at the pump, GasBuddy reported prices, “will be at their highest Memorial Day level ever.”
According to GasBuddy’s weekly survey of 148 stations in Peoria, gas prices in Peoria are 43.5 cents per gallon higher than a month ago.
The cheapest gas price in the area is listed at $4.59 while the most expensive price is listed at $4.98 per gallon, a difference of 39 cents per gallon.
Comparatively, gas prices across the state average $4.98 per gallon, up 15.3 cents from last week’s price. Champaign’s average price rose to $4.85 per gallon, and in the Quad Cities, the average price soared to $4.32 per gallon.
AAA Spokesperson Andrew Gross said the national average for a gallon of gas has not fallen for nearly a month. Since April 24, he said gas prices have either stayed flat or risen every day, and they even set a new record daily since May 10.
“Gasoline is $1.05 more than it was on Feb. 24, when Russia invaded Ukraine,” Gross said. “That sent shock waves through the oil market that have kept oil costs elevated. Domestically, meanwhile, seasonal gas demand is rising as more drivers hit the road, despite the pain they face paying at the pump.”
GasBuddy Petroleum Analysis Head Patrick De Haan said although gas prices hit new record highs, those price hikes have started to slow, with diesel prices also slowing.
He said Memorial Day will be more expensive for drivers in 2022.
“With more Americans planning to hit the road for Memorial Day this year compared to last, prices will be over $1.50 per gallon higher than last year,” De Haan said in a blog post. “Though, prices are appearing to slow down, for now. While the coast isn’t clear yet, and prices will be at their highest Memorial Day level ever, I’m hopeful that we could avoid a dreaded national average of $5 per gallon this year. Whether or not we’re able to depends on Americans cutting demand in the face of sky high prices.”