Gas prices continue to trend lower in the Greater Peoria area as the national per-gallon average drops below the $4-mark for the first time since August.
According to the fuel cost-tracking website GasBuddy.com, the average in the five-county Peoria market dipped to $4.57 on Monday afternoon.
That’s down slightly more than 10 cents from a week ago and 11 cents lower than the second week of October, but still $1.35 higher than last year at this time.
GasBuddy reported the national average dropped almost 16 cents in the past week, reaching $3.96 on Monday. In his weekly blog update on the site, lead petroleum analyst Patrick De Haan said the price is likely to stay below $4 in the weeks ahead.
“Gasoline prices fell in every state over the last week, while diesel declined in nearly every state, and the national average dropped below $4 per gallon for the first time since early August,” said De Haan.“Many will assume the election had something to do with it, but that’s a myth.
“Gas prices have fallen in the 30 days leading up to the election every year since 2006 except 2010, and it’s typically seasonal: refiners finish maintenance and ramp up output just as demand fades with cooler weather.”
The average for Peoria County alone stood at $4.62, which is 19 cents higher than the statewide average in Illinois. Stark County had the lowest average in the Peoria market at $4.46.
