PEORIA, Ill. – There’s a little relief at the pump, as gas prices in Peoria continue to head in the right direction.
We’ve seen a drop of about 15 cents a gallon over the last week, bringing our local average down to $4.57. GasBuddy says that’s still over a dollar higher than this time last year, but any dip is good news for your wallet. AAA Illinois’ price is a few pennies higher at $4.61.
It’s a similar story nationwide, with the average price of a gallon of unleaded gas falling about 18 cents to $4.09.
Oil prices are cooling off a bit, and refineries are back to full speed after some seasonal maintenance. But, experts at GasBuddy are warning that things could turn around quickly. With the Strait of Hormuz still effectively closed, global supplies are tight. If that situation gets worse, we could see these prices spike again.
For now, though, you’re paying a bit less at the pump.
