PEORIA, Ill. – Peoria area drivers are feeling the pinch at the pump as average gas prices have risen for the fourth straight week, according to the latest survey from GasBuddy.
The average price of unleaded gas in Peoria was $2.95 on Monday, according to GasBuddy and AAA Illinois, up 7.4 cents over the last week.
Peoria prices are now 13.7 cents higher than last month, though they remain 31.3 cents lower than they were a year ago.
The average price of gas across Illinois is $3.05 a gallon, according to AAA Illinois.
GasBuddy says the national average price of gas has also seen a jump, rising 5.6 cents per gallon in the last week to $2.94. AAA’s national price is $2.99 a gallon.
Patrick De Haan, head of petroleum analysis at GasBuddy, noted that the upward trend is “driven primarily by seasonal tightening and broader market dynamics.” He also pointed to geopolitical risks, stating, “markets will now begin reacting to this weekend’s U.S.–Iran attacks, which have elevated geopolitical risk premiums even in the absence of immediate supply disruption.”
De Haan forecasts continued pressure on prices, with the national average “poised to reach the $3-per-gallon mark for the first time this year.”
Comments