PEORIA, Ill. (WMBD) — The downward trend at the pump continues as Peoria drivers saw the average price per gallon fall 17.4 cents this week to average $3.64 per gallon Monday.
According to GasBuddy’s weekly survey of 148 stations in Peoria, gas prices are 65.4 cents per gallon lower than one month ago, and only 13 cents per gallon higher than this day in 2021.
The cheapest gas price in the Peoria area on Sunday was listed at $3.38 per gallon, while the most expensive price was 51 cents higher at $3.89 per gallon.
Comparatively, the Quad Cities’ average price per gallon in $3.19, down from last week’s $3.24. The average price in the Champaign area is $3.49 per gallon, down from last week’s average of $3.67.
Across the state, the lowest price on Sunday was listed at $2.92 per gallon. The most expensive listed price was $5.87, a difference of $2.95 per gallon. The statewide average is $3.60 per gallon, 16.5 cents cheaper than last week’s average of $3.78.
The national average price per gallon has fallen 15.8 cents this week to average $3.36 Monday.
For the first time in 670 days, the national average price of gasoline has fallen below its year-ago level, dropping for the fourth straight week to its lowest level since January, according to GasBuddy’s weekly report.
“Every state has again seen average gasoline prices drop in the last week, and it remains very possible the national average could fall under $3 per gallon by Christmas. There has also been a drop in diesel prices, which this week will fall back under $5 per gallon, and could soon thereafter fall to their lowest level since March,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “However, despite all the good news about fuel prices, there may be some concerns coming as the price cap on Russian oil kicks in. Retaliation is possible, and while OPEC+ upheld production cuts from last month, they could always cut more production. For now, however, we’ll likely see another week of declines at the pump in nearly all areas.”
The price of diesel also declined this week, averaging $5.06 per gallon nationally.