The price of gas in Greater Peoria has ticked down in recent days, but is still well above last year’s average heading into the Memorial Day weekend.
The fuel cost-tracking website GasBuddy showed a per-gallon average of $4.84 in the Peoria market, down nine cents from a week ago. The five-county region’s average price was at $4.17 last month, and just $3.28 before the holiday last year.
GasBuddy lead analyst Patrick De Haan said the oil markets remain volatile, and fuel costs are likely to climb higher in the weeks ahead.
“With global oil inventories continuing to trend toward historically tight levels, markets remain extremely sensitive to geopolitical developments and potential supply disruptions,” De Haan said in the website’s weekly blog. “As a result, gasoline and diesel prices are likely to remain volatile, and with Memorial Day approaching, any sustained increase in oil prices could begin pushing retail fuel prices higher again in the weeks ahead.”
Peoria County itself had an average of $4.94 on Friday, while Woodford, Marshall and Stark counties were around $4.98. The statewide average in Illinois was at $4.97, while the national figure is $4.53.
