Average price of gas around Peoria begins decline, says GasBuddy

Gas prices
Gas prices(MGN)
Published: Sep. 12, 2022 at 11:09 AM CDT
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PEORIA (25 News Now) - The average price of gas around Peoria has fallen by 10.7 cents per gallon in the last week and averages $3.80 per gallon, according to GasBuddy’s 148 station survey.

Prices in the River City are 18.4 cents per gallon lower than this time last month and are 58.5 cents per gallon higher than this time last year.

GasBuddy says the national diesel average has declined 5.5 cents in the last week and stands at $5.01 per gallon.

The national average price of gasoline has fallen 7.6 cents per gallon in the last week, averaging $3.67 per gallon today. The national average is down 26.9 cents per gallon from a month ago and stands 52.3 cents per gallon higher than a year ago, according to GasBuddy data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.

“We continue to see the national average price of gasoline decline, now for the thirteenth straight week. But, we’re seeing drastically different price behaviors from coast to coast, with some areas seeing noticeable increases while others are seeing decreases,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “Refinery issues in California are leading to increases in areas supplied by the state’s refineries, including areas of Arizona, Nevada, Oregon, Washington and of course, California.”

“Gasoline supply remains tight for the East Coast with some modest moves up, while prices continue to edge lower in the Plains, South and areas of the Great Lakes. For now, I believe the drop in prices will overpower the increases, leading to potentially another decline this week, but we’re in a very fragile time and certainly could see a broader move higher in the weeks ahead.”