PEORIA, Ill. – Gas prices in Peoria have dropped nearly three cents a gallon in the last week, averaging $3.25 on Monday, according to GasBuddy.
Peoria’s prices are nine cents lower than a month ago and over 13 cents lower than this time last year.
GasBuddy price reports show the cheapest gas in Peoria on Sunday was $2.99 a gallon, while the most expensive gas was $3.49. The lowest price in the state was $2.59, while the highest price was $4.59.
GasBuddy’s national average price of unleaded gas was down nearly 6.5 cents a gallon in the last week, averaging $3.02 on Monday. That’s down over 13.5 cents from last month and nearly 14.5 cents lower than a year ago.
“Americans appear to be on the cusp of seeing the national average drop below $3 per gallon for the first time in years, as prices have fallen across the vast majority of the country,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “With well over 40 states seeing gas prices decline and oil plunging below $60 per barrel to end the week, the good news may not end if — and when — the national average hits that magical $2.99 mark. We could even see a handful of stations in places like Oklahoma, Texas, or even Wisconsin drop below $2 per gallon in the weeks ahead — something not seen since the pandemic. In addition, with wages up and gas prices down, Americans are spending the smallest share of their paycheck on gasoline in many years.”
Meanwhile AAA Illinois says the average price of gas in the Peoria/Pekin metro area on Monday was $3.25 a gallon, the state average price was $3.21, and the national average price of unleaded gas was $3.08.
