PEORIA, Ill. – Average gas prices in Peoria have dropped less than a penny per gallon in the last week, averaging $3.20 on Monday, according to GasBuddy’s survey of 148 stations in Peoria.
Prices in Peoria are nearly six cents higher than a month ago, and just over two cents lower than this time last year.
According to GasBuddy price reports, the cheapest gas in Peoria on Sunday was $3.04, while the most expensive gas was $3.39. Illinois’ lowest price was $2.84, and the highest price was $4.49.
The national average price of gas has dropped nearly a penny per gallon in the last week, averaging $3.08 on Monday.
“Oil prices have declined over the last week following President Trump’s speech at the World Economic Forum, where he urged Saudi Arabia to lower oil prices by restoring production. The downturn in oil has caused gas prices to stabilize for the time being, with crude now more than $5 per barrel below where it was a couple of weeks ago,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
“As we approach the February 1 deadline for potential U.S. tariffs on Canada and Mexico— key sources of crude oil imports— we’ll be monitoring for any potential impact, including the possibility of retaliatory tariffs. For now, I remain hopeful that tariffs won’t materialize, and gas prices could stay relatively stable over the next few weeks, at least until the seasonal rise in prices begins in mid-to-late February,”De Haan says.
Meanwhile, AAA says the average price of gas in the Peoria/Pekin metro area on Monday was $3.22 per gallon, the state average was $3.27, and the national average price of unleaded gas was $3.12.
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