PEORIA, Ill. – Gas prices in Peoria have fallen nearly two cents a gallon in the last week, averaging $3.29 on Monday.
GasBuddy says Peoria prices are four cents lower than a month ago, and nearly 39 cents lower than a year ago.
GasBuddy price reports show the cheapest gas in Peoria was $3.14 a gallon on Sunday, while the most expensive gas was $3.49. The lowest price in the state was $2.86 a gallon, while the highest price in Illinois was $4.49.
The national average price of gas has risen about six cents a gallon in the last week, averaging $3.14 on Monday.
“Gasoline prices jumped in over three-quarters of U.S. states over the last week, as oil prices surged following former President Trump’s decision to reduce tariffs and strike new trade deals—moves that inspired optimism that a major tariff-induced economic slowdown might be avoided,” Patrick De Haan, head of petroleum analysis at GasBuddy said.
“In addition to gains in price-cycling markets, rising oil prices—fueled by economic optimism and tightening gasoline inventories—contributed to broader upward pressure on prices. While Americans are still seeing significant savings compared to a year ago, that gap has narrowed as oil prices have rebounded. As we approach Memorial Day, GasBuddy is preparing to release its summer travel survey results and issue a gas price forecast for the season. For now, motorists can expect one of the most affordable summers for hitting the road since the pandemic, with gas prices tracking at some of the lowest inflation-adjusted levels in years,” De Haan said.
Meanwhile, AAA Illinois said the average price of gas in the Peoria/.Pekin metro area on Monday was $3.31 a gallon, the state average price was $3.37, and the national average price of gas was $3.17 a gallon.
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