Summer driving season raises gas prices in Central Illinois

Local News

PEORIA, Ill. (WMBD) — Gas prices are rising in Peoria as the summer driving season starts, putting the average price per gallon at $3.24.

According to GasBuddy’s weekly survey of 148 stations in Peoria, the price of a gallon went up 4.3 cents over the past week. Gas prices in Peoria are 16.8 cents per gallon higher than a month ago.

The cheapest gas price in the area is priced at $3.14 while the most expensive price is $3.39 per gallon, a difference of 25 cents per gallon.

Comparatively, gas prices across the state average $3.21 per gallon, down 3.4 cents from last week’s price. Champaign’s average price also rose to $3.21 per gallon, and over in the Quad Cities, the average price rose to $3 per gallon.

AAA Spokesperson Jeanette McGee said the majority of states saw no change to pump prices or a decline on the week, but she predicts prices may not stay stagnant. 

“Demand has steadily jumped week-over-week since the end of April, pushing supply down to typical summer levels,” McGee said. “The increasing demand and decreasing supply combined with more expensive crude oil prices means gas prices are likely to see fluctuation throughout June. We could see some decreases early in the month and increases mid-month as school years end and summer travel increases.”

GasBuddy Petroleum Analysis Head Patrick De Haan said For the sixth straight week, the national average price of gasoline has risen.

“With the summer driving season now officially begun, gas prices have clung to a $3 per gallon average on continued strong demand as Americans take to the roads amidst a continued economic recovery,” De Haan said in a blog post.

“Through Sunday, U.S. gasoline demand was very strong over the weekend, with Friday and Sunday both setting new COVID records for gasoline consumption for their respective day of week, according to GasBuddy data. While gasoline demand continues to recover, oil production has only slowly started gaining momentum after a very challenging 2020 forced oil companies to take several steps backward as prices and demand plummeted last year. While oil production is now moving in the right direction, we’re in catch-up mode to searing hot gasoline demand, and the imbalance has pushed prices up notably.”

He predicts the price of gas will continue to rise in the summer.

“For now, there’s little chance of a backslide in gas prices, but a larger chance that this summer could boast near-record gasoline demand as Americans hit the road, but remain mostly stuck to the U.S. due to overseas travel challenges that persist,” De Haan said.

Copyright 2021 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Latest Local News

More Local News