PEORIA, Ill. – Gas prices in Peoria continue to drop, now down 19.7 cents in the last week. GasBuddy says the average price in Peoria is $4.38 a gallon.
This latest drop marks a significant shift for local drivers. Peoria gas prices are 55.6 cents lower than a month ago, though they remain $1.10 a gallon higher than this time last year. GasBuddy’s state average price is $4.31.
AAA Illinois’ price for the Peoria/Pekin metro area is a bit higher at $4.45 a gallon, and the state average price is $4.36.
Across the country, the national average for unleaded gas has dropped 9.3 cents to $3.99 a gallon, according to GasBuddy. AAA’s national price is $4.06.
GasBuddy’s head of petroleum analysis, Patrick De Haan, attributes the national decline to oil prices moving lower following news of a potential deal between the United States and Iran. However, De Haan cautions that the relief may not be permanent.
“The real test now shifts to the Strait of Hormuz,” De Haan said. “Any reopening and resumption of normal oil flows would be the clearest signal that this relief is durable. For now, the national average could continue falling, provided there isn’t a drastic reversal.”
Local Market Snapshot from GasBuddy:
- Current Peoria Average: $4.38/g (down 19.7 cents)
- Price Range: Local prices varied by 73 cents per gallon, ranging from a low of $3.96 to a high of $4.69.
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