PEORIA, Ill. – Another week, another increase in the price of gasoline in Peoria – this time, though, not as steep of an increase as the week before.
GasBuddy says the average price of the Peoria-area filling stations it surveys now sits at $3.45 a gallon – up just a penny and a half from the week before.
Last week, gas prices, according to their survey, had increased by 17 cents a gallon.
GasBuddy says more states saw drops than increases in the last week.
An outage at the BP refinery in Whiting, Indiana, though, had some impact on the prices recently in the midwest.
AAA’s Peoria-Pekin metro gas price average is at $3.47 a gallon – up two cents from a week ago.
“Motorists have finally seen a bit of a break in the recent rise in the national average, with more states seeing drops than increases in the last week. While the pause has certainly been nice, this is more like a rain delay than it is a 7th inning stretch,” said Patrick De Haan, head of petroleum analysis at GasBuddy, in a news release. “It’s likely only a matter of time before we see the rise re-engage and prices start to head higher, but we’ll take any break that we can. Oil prices have shown some signs of struggling last week after coming within arms reach of $80 per barrel before falling closer to $76, but all eyes are on refiners as utilization remained seasonally weak, around 80% of capacity, meaning there’s less gasoline and diesel being produced. That’s why it’s just a matter of time before prices collide with rising demand and start to accelerate again.”
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