PEORIA, Ill. — Gas prices have actually dropped a few cents in the Peoria-Pekin metro area this week.
According to Triple A, the average price for a gallon of unleaded gas locally is $4.53, just a penny above the state average of $4.52.
Drivers nationwide are continuing to see high gas prices as supply chain issues, inflation and the war between Russia and Ukraine puts pressure on prices.
Triple A says the national average for a gallon of regular unleaded is $4.27.
To relieve some of the pressure at the pump, the Biden administration and several other nations have committed to flooding the oil market with another 60 million barrels in strategic reserves.
The move is aimed at slowing prices increases, not necessarily bringing prices back down.
In addition, leaders in some states, including Illinois, are floating the idea of cutting or repealing state gas taxes to offer residents more relief.
Illinois Gov. J-B Pritzker has proposed freezing the state gas tax instead of allowing it to take a scheduled hike. Republicans want the gas tax suspended when inflation reaches a certain level.
Of course, gas taxes is where much of the revenue is drawn for all important road and bridge projects across the state.
Comments