GasBuddy: Prices in Peoria continue to fall as the end of summer is in sight

PEORIA, Ill. – Average gasoline prices in Peoria have fallen 3.2 cents per gallon over the past week, averaging $3.70 on Monday, according to a GasBuddy survey of 148 Peoria gas stations.

Prices in Peoria are 4.5 cents higher than a month ago and about 30 cents lower than a year ago.

According to GasBuddy's price reports, the cheapest gas in Peoria on Sunday was $3.44 per gallon, while the most expensive gas was $3.94. The lowest price in the state was $3.04, and the most expensive gas in the state was $4.99.

The national average price of unleaded gasoline fell 4.2 cents per gallon over the past week, averaging $3.37 on Monday, according to data from GasBuddy.

“Gasoline and diesel prices continue to fall across much of the country as summer demand wanes. Lower demand in other oil-consuming countries is also adding to the downward pressure on pump prices as we approach Labor Day,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “With little new action in the Middle East to drive up prices and Hurricane Ernesto still far out at sea, it looks like the downward trend could continue in the coming week. As more schools reopen, gasoline demand is likely to continue to wane. With the switch to winter gasoline beginning in most parts of the country in less than a month, gasoline prices will soon begin their seasonal cooldown – just as temperatures will soon.”

Meanwhile, AAA said the average price of gasoline in the Peoria/Pekin metropolitan area on Monday was $3.71, statewide was $3.79 and nationwide was $3.41.