Peoria gas prices average falls, but still higher than average nationally

AAA predicts that Florida gas prices could continue to decrease, but the market is still...
AAA predicts that Florida gas prices could continue to decrease, but the market is still unstable.(MGN)
Published: Aug. 1, 2022 at 10:23 AM CDT
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PEORIA (Heart of Illinois ABC) - The average price of gas in Peoria has fallen below $4.50 per gallon, according to GasBuddy’s 148 Peoria station survey.

GasBuddy says the average is now $4.45 per gallon, falling 13.3 cents per gallon in the last week, leaving prices 66.8 cents per gallon lower than a month ago and $1.09 per gallon higher than this time last year.

The average price of diesel nationally has dropped 14.8 cents in the last week and stands at $5.27 per gallon.

According to GasBuddy’s reports, the lowest price for gas in the River City was $4.19 per gallon Sunday while the highest was $4.87 per gallon, a 68-cent difference.

Around Illinois, the lowest price was $3.64 per gallon while the highest was $5.99 - a $2.35 per gallon difference.

Nationally, the average is $4.17 per gallon, down 65.5 cents per gallon from a month ago and $1.02 per gallon than this time last year.

“We continue to see average gas prices falling in every state, with the national average down for the seventh straight week,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “The outlook is for a continued drop in most areas, however, some supply tightness in areas of the Northeastern U.S. could push prices up slightly until inventories rise, or imports do.”

“For now, Americans are seeing prices nearly 90 cents lower than their mid-June peak and are spending close to $330 million less on gasoline every day as a result. As long as oil prices hold at these levels or lower, we’ll see another decline in most areas this week.”

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