PEORIA, Ill. – Local drivers are seeing a drop in gas prices, with the average in Peoria dropping nearly five cents a gallon in the last week.
According to GasBuddy, the average price in Peoria was $4.19 a gallon Monday, down 4.9 cents in the past week. AAA Illinois’ price in the Peoria/Pekin metro area was a penny lower at $4.18 a gallon.
Key Price Details:
- Local prices ranged from $3.89 on Sunday to $4.29 in Peoria.
- Illinois State Average (AAA Illinois): $4.30 a gallon.
- National Average (GasBuddy): $3.97 a gallon (down 9.4 cents last week).
Despite the recent relief at the pumps, GasBuddy’s head of petroleum analysis, Patrick De Haan, warns that the break may be short lived.
“Average gasoline prices declined in 48 states over the last week… offering a welcome break at pumps, with the national average price of gasoline dipping below the $4 per gallon mark over the weekend,” De Haan says.
However, De Haan says that oil prices surged after Iran re-closed the Strait of Hormuz. He adds that with global oil flows remaining at risk, “renewed volatility is taking hold,” and gasoline prices are “likely to rise again in the days ahead”.
Peoria gas prices are currently 17 cents higher than a month ago and nearly 86 cents higher than a year ago.
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