PEORIA, Ill. (WMBD) — After weeks of drops, gas prices have risen in Peoria, putting the average price of gas at $3.32 per gallon.
According to GasBuddy’s weekly survey of 148 stations in Peoria, the price of a gallon went up 7.4 cents over the past week. Gas prices in Peoria are five cents per gallon higher than a month ago.
The cheapest gas price in the area is listed at $3.08 while the most expensive price is listed at $3.49 per gallon, a difference of 41 cents per gallon.
Comparatively, gas prices across the state average $3.32 per gallon, up 7.5 cents from last week’s price. Champaign’s average price also rose to $3.24 per gallon, and in the Quad Cities, the average price rose to $3.11 per gallon.
GasBuddy Petroleum Analysis Head Patrick De Haan said damage to oil production from Hurricane Ida is responsible for much of the rise in gas prices recently.
“Gas prices have been stuck in somewhat of a limbo and remain near 2021 highs long after Hurricane Ida has dissipated. The damage done to oil production has been left behind and so far has prevented prices from resuming their seasonal decline,” said Patrick De Haan, head of petroleum analysis for GasBuddy.
“Ida caused the loss of over 30 million barrels of oil production in the Gulf of Mexico, and with gasoline demand remaining relatively high for the season, oil inventories remain relatively tight, preventing any organized decline in gas prices for the time being. As a result, we may have to wait a couple more weeks until hurricane season slows for oil inventories to start to rise and gas prices to fall.”
