PEORIA, Ill. — If you’re filling up in Peoria, you might see a bit of relief at the pump this week. Average gas prices have dropped by about two-and-a-half cents, sitting between $4.25 and $4.27 a gallon.
Don’t get too comfortable, though. While Peoria saw a minor dip, gas prices across Illinois and the nation are actually on the rise.
Experts at GasBuddy point to ongoing global turmoil for the higher costs at the pump. Tensions in the Strait of Hormuz and attacks on Russian oil refineries are keeping the oil market tight, pushing prices up despite some local fluctuations.
It pays to be picky about where you fill up. There’s a 45-cent difference between the cheapest and most expensive stations in Peoria—that’s a significant chunk of change when you’re filling a tank.
With major global refinery strikes and supply chain challenges showing no signs of stopping, analysts say the path for gas prices remains headed one way: up.
