PEORIA, Ill. – Average gas prices in Peoria have dropped 4.8 cents a gallon in the last week, averaging $3.61 on Tuesday, according to GasBuddy’s survey of 148 stations in Peoria.
Peoria prices are 13.8 cents a gallon lower than last month, and 26.7 cents lower than a year ago.
According to GasBuddy price reports, the cheapest gas in Peoria on Monday was $3.45 a gallon, while the most expensive gas was $3.79. The lowest price in the state was $2.93, while the highest-priced gas in Illinois was $4.99.
The national average price of gas has dropped 4.6 cents a gallon in the last week, averaging $3.28 on Tuesday. The national average is down 17.9 cents from a month ago, and 48.9 cents lower than this time last year, according to GasBuddy data.
“Motorists rejoice! The national average price of gasoline prices has continued to slump for the fifth straight week. With the summer driving season now over, we have much to look forward to for the fall: more drops at the pump as demand drops seasonally, and the changeover to cheaper winter gasoline is just two weeks away,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
“As long as we don’t see a major hurricane head into the Gulf and the situation improves in the Middle East, the national average could fall below $3 in the next two months—GasBuddy is already tracking eight states at that level or lower. While diesel prices fell slightly last week, they may rise with winter growing closer and the economy’s likely rebound ahead of the Fed’s expected rate cut. So, while it’s great news for gas prices, diesel will likely soon see its seasonal rise kick in,” De Haan says.
Meanwhile, AAA says the average price of gas in the Peoria/Pekin metro area was $3.61 on Tuesday, Illinois’ average price was $3.64, and the national average price of unleaded gas was $3.32 a gallon.
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