PEORIA, Ill. – Gas prices in Peoria dropped 2.4 cents a gallon in the last week, averaging $3.32 on Monday, according to GasBuddy.
Prices in Peoria are 5.4 cents higher than a month ago and 34.8 cents lower this time last year.
GasBuddy says the cheapest gas on Sunday in Peoria was $3.14 a gallon, while the most expensive gas was $3.49. The lowest price in the state was $2.75 and the highest price was $4.59.
The national average price of gas has dropped 1.7 cents a gallon in the last week, averaging $3.09 on Monday, down 11.5 cents from a month ago and 37.7 cents lower than a year ago, according to GasBuddy data.
“The national average price of gasoline slipped slightly over the last week, falling alongside oil, which dropped more than $2 per barrel,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “However, a few states— including Florida, Nebraska, and Indiana— bucked the trend, posting double-digit increases per gallon. These areas are prone to a phenomenon known as price cycling, where prices can spike and plunge every couple of weeks even if wholesale costs remain mostly unchanged. While I don’t expect major movement in the national average as we approach August, states impacted by price cycling will likely continue to experience more volatile price swings, while others will see relative stability.”
Meanwhile, AAA Illinois says the average price of gas in the Peoria/Pekin metro area on Monday was $3.32 a gallon, the state average price was $3.41, and the national average price of gas was $3.14.
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