PEORIA, Ill. – Average gas prices in Peoria have dropped 8.0 cents a gallon in the last week, averaging around $4.82 on Tuesday, according to GasBuddy and AAA Illinois.
Prices are 58.3 cents a gallon higher than a month ago, and they are about $1.55 a gallon higher than this time last year.
According to GasBuddy price reports, the cheapest gas in Peoria was $4.50 a gallon on Monday, while the most expensive gas was $5.12 a gallon. The lowest price in the state was $3.99 and the highest price was $6.29 a gallon.
The national average price of gas has fallen 6.6 cents a gallon in the last week, averaging $4.45 on Tuesday. The national average is up 41.0 cents from a month ago and is $1.32 a gallon higher than a year ago, according to GasBuddy.
“Average gasoline prices declined in 40 states over the last week as falling oil prices helped offset earlier price cycling in many markets, bringing relief to motorists after several states had already seen sharp increases,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “Much of the decline came after renewed optimism surrounding a potential U.S.-Iran agreement pushed oil prices lower, easing geopolitical pressure on energy markets. In many states, that drop created breathing room after recent price cycles and allowed pump prices to fall again. While oil continued drifting lower over the weekend on hopes of a deal, new CENTCOM reports involving U.S. defensive strikes highlight how quickly the outlook could change. For now, motorists may continue to see some relief, but it remains too early to know how long the decline will last.”
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