PEORIA, Ill. – Gas prices continue to drop in the Peoria area, and one analyst is sticking by a projection that the national average price could drop below $3 a gallon by Christmas.
The Peoria-area average, according to GasBuddy.com, now sits at $3.13 a gallon – a drop of more than 5.5 cents a gallon in the last week.
That’s 29 cents lower than last month, and almost 24 cents lower than a year ago.
AAA’s Peoria-Pekin metro average is not available as of our deadline, but it’s expected to have fallen as well.
GasBuddy says the national average sits at $3.03 a gallon, so they still see the average being lower by next Monday.
The declines, they say, may soon come to an end, though, with oil prices rebounding from some volatility and recent lows.
GasBuddy expects what they call a “gentler” 2024 for pump prices.
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