PEORIA, Ill. – After a trend of falling gas prices, the cost to fill up your tank has gone back up.
GasBuddy reports the average price of a gallon of unleaded in the Peoria area today on Monday is $3.16/g, up 8.1 cents in the past week.
The average is 0.6 cents higher than one month ago, and 1.6 cents higher than this time last year.
The cheapest price reported by GasBuddy on Sunday in Peoria was still under three dollars, at $2.98/g. The highest price was listed at $3.29/g.
AAA is also reporting an increase in its Peoria-Pekin metro area survey, a 6.9 cent increase in the past week to an average of $3.17/g on Monday. Their average is 2.6 cents cheaper than this time last month, but 1.9 cents higher than one year ago.
In Illinois, GasBuddy reports an average of $3.19/g, up 7.7 cents in the past week. AAA is reporting a state average of $3.21/g, up 6.7 cents from last week.
Analysts believe momentum for falling gas prices will weaken, with rising oil prices decreasing chances.
“As we edge closer to the end of the year, we’re seeing momentum for falling gas prices weaken, which is typical as the national average generally bottoms out between Thanksgiving and Christmas,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “With oil prices rising back above $70 last week, gas prices may have less potential to drop much further, though there may be a second window of lower prices in January or February in some areas, but even that won’t last long.”
Nationally, GasBuddy reports a nearly one cent increase in the past week to an average of $2.98/g. The national average is down 7.5 cents in the past month.
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