PEORIA, Ill. – You’ll likely feel less pain at the pump this week.
GasBuddy says the average price of unleaded gas in Peoria fell by just over 8 cents last week and by more than 15 cents from a month ago. AAA Illinois’ price is a penny higher at $4.73.
The average price of a gallon of gas in Peoria ranges from $4.49 to $5.09. Some areas in the state are seeing even lower prices, with the cheapest gas reported as $3.89 a gallon. The highest-priced gas was $5.99 a gallon.
GasBuddy says the national average price for gas nationwide fell by nearly 20 cents a gallon last week, with a gallon of regular costing $4.26 a gallon. AAA’s national price is a little higher at $4.32 a gallon.
“Average gasoline prices declined in all 50 states over the last week, with GasBuddy now tracking 15 states where the average price of gasoline has fallen below $4 per gallon, offering motorists some of the most widespread relief seen in weeks,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
“Much of the decline was driven by falling oil prices and the unwinding of recent price cycles, as growing optimism surrounding a potential U.S.-Iran agreement helped ease concerns over global oil supplies. Diesel prices also posted a substantial decline, falling more than 15 cents per gallon nationally. However, the coast is anything but clear. Oil prices edged higher Sunday evening as uncertainty surrounding a potential deal persisted and renewed Israeli attacks added another layer of geopolitical risk. While motorists may continue to see some short-term relief, some price-cycling states could soon experience another upward swing as retailers run out of room to lower prices further. Overall, any setback in negotiations could quickly reverse the recent decline in fuel prices,” De Haan says.
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