PEORIA, Ill. – Average gas prices in Peoria have risen nearly ten cents a gallon in the last week, averaging $3.38 on Monday, according to GasBuddy’s survey of 148 stations in Peoria.
Prices in Peoria are 12.5 cents higher than a month ago, and nearly 35.5 cents lower than a year ago.
According to GasBuddy price reports, the cheapest gas in Peoria on Sunday was $2.68 a gallon, while the most expensive gas was $3.59. The lowest price in the state was $2.68, while the highest price was $4.59.
The national average price of gas has risen just over 10.5 cents in the last week, averaging $3.21 on Monday.
“While the national average price of gasoline saw its largest weekly gain of the year, it likely won’t last long, as oil prices have plummeted amid growing concerns about the global economy following the U.S. announcement of some of the most significant tariffs in over a century, along with OPEC+ restoring oil production faster than anticipated,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
“In addition to falling oil prices, the stock market has dropped sharply, and the risk of a recession has increased— raising the likelihood of reduced global energy and oil demand, which is sending prices lower. As a result, motorists can expect gas prices to begin falling nearly coast-to-coast, with oil now at its lowest level since the early days of the pandemic in 2021. If tariffs aren’t scaled back soon, the national average could fall below $3 per gallon in the weeks ahead, with no clear indication of how long it might stay there as market volatility persists,” De Haan said.
Meanwhile, AAA Illinois says the average gas price in the Peoria/Pekin metro area was $3.39 on Monday, the state average was $3.49, and the national average gas price was $3.25 a gallon.
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