PEORIA, Ill. – Gas prices in the Peoria area dropped again in the last week according to two leading agencies, but the decline wasn’t quite as much as in previous weeks.
GasBuddy says their survey of local filling stations puts the average price at $3.27 a gallon – another nearly four cents-per-gallon drop. AAA, meanwhile, has its Peoria-Pekin average at a little more than $3.28 a gallon – also a drop of four cents.
GasBuddy, however, says the national average barely declined in the last week, and sits at $3.21 a gallon.
“We’ve barely eked out a drop in the national average over the last week ($3.21 per gallon), extending the streak to 11 straight weeks of decline, even as some states have seen prices jump, while others have seen prices continue to inch lower. Motorists can blame the OPEC+ meeting for causing oil to jump early last week and then plummet late last week for the volatility in gas prices,” said Patrick De Haan, head of petroleum analysis at GasBuddy, in a news release. “The good news is that as the dust settled, OPEC+ agreed to barely move the needle, deepening their production cuts by an additional 900,000 barrels per day in 2024, with Saudi Arabia extending their own million barrel per day cut through March.”
GasBuddy thinks it’s still possible that the national average will go below $3 per gallon by the end of the year.
The Illinois average is $3.35 per gallon, down 0.8 cents from the previous week, according to GasBuddy. AAA, meanwhile, has the state average at $3.38, down a penny from Sunday, and down almost two cents from the week before.
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