PEORIA, Ill. – The price of a gallon of gas in the Peoria area continues to fall.
After an about five cent decrease reported last week, both GasBuddy and AAA are reporting another drop in the average price of unleaded.
GasBuddy’s Peoria-area average is around $3.78/g, which is 4.5 cents lower than last week. The average is 21.1 cents lower than a month ago, but 2.3 cents higher than one year ago.
They listed the cheapest price in the Peoria-area at $3.49/g, with the most expensive at $4.19/g.
AAA is reporting the Peoria-Pekin metro average at $3.82/g, down 3.8 cents from last week. That amount is 22.7 cents cheaper than one month ago, but 4.8 cents higher than at this time last year.
Both GasBuddy and AAA are reporting an average five cent drop in the Illinois average, but with different prices. GasBuddy is reporting a state average of $3.92/g with AAA at $3.95/g. GasBuddy reports the lowest price in Illinois is at $3.14/g, with the highest at $5.29/g.
Analysts believe multiple factors could keep gas price around that range for a little while.
“With the transition back to cheaper winter gasoline now upon us in nearly every state, we should see prices eventually cooling back off, but if refinery issues continue to develop or linger, especially now that we’re entering maintenance season with less availably capacity online, the expected decline could certainly be offset,” says Patrick De Haan, head of petroleum analysis at GasBuddy. “In addition, with oil prices now above $91 for the first time in nearly a year, there remains some offset from the rising price of oil thanks to Saudi Arabia and Russia’s war on low oil prices, now in its third month.”
