PEORIA, Ill. (WMBD) — Gas prices dipped slightly in Peoria with the summer driving season underway, putting the average price per gallon at $3.23.
According to GasBuddy’s weekly survey of 148 stations in Peoria, the price of a gallon went up 4.3 cents over the past week. Gas prices in Peoria are 16.8 cents per gallon higher than a month ago.
The cheapest gas price in the area is priced at $3.07 while the most expensive price is $3.39 per gallon, a difference of 32 cents per gallon.
Comparatively, gas prices across the state average $3.24 per gallon, up 2.1 cents from last week’s price. Champaign’s average price also fell to $3.19 per gallon, and over in the Quad Cities, the average price dropped to $2.95 per gallon.
GasBuddy Petroleum Analysis Head Patrick De Haan said the country is entering the fourth straight week with the national average above $3 per gallon. He said prices failed to drop much from their peak as demand for gasoline continued to push higher.
“According to GasBuddy data, gasoline demand last week eclipsed the prior week, when millions of Americans were gearing up for Memorial Day travel.” De Haan said in a blog post.
“It’s not an easy feat, but highlights that economic conditions are ripe for continued growth in demand, contributing to prices holding at high levels. As OPEC has maintained a slow but steady increase in oil production, that additional production is quickly being gobbled up by a recovering global economy.”
He predicts drivers will not see gas prices decline moving forward.
“Our current gas prices likely won’t change much by July 4, but remain stubbornly high, barring any major curveballs to supply and demand,” De Haan said.