Prices at the pump take a slight drop, says Gas Buddy website

PEORIA, Ill. (WMBD) — After a single week of increases, gas prices dropped in the Peoria area albeit by a fraction of a penny.

According to the GasBuddy website, prices fell 0.8 cents a gallon in the past week for an average of $3.38 a gallon, according to GasBuddy’s survey of 148 stations in Peoria.

That’s about 5.4 cents lower than a month ago and 16.2 cents a gallon less than a year ago. The national average price of diesel dropped 1.3 cents last week with the national average being at $3.56 a gallon.

The cheapest place in the Peoria area, the website reported, was $2.89 a gallon which was at the Road Ranger in Minonk. The most expensive station was $3.62 a gallon.

The average price of gas in the U.S. remained at $3.13 a gallon while the state’s average is $3.37 a gallon.

“The median U.S. price for gasoline has just slipped below the ($3 a gallon) mark for the first time since early 2024, while the national average price of gasoline has returned to decline as oil prices have begun to cool off after Iran’s attack on Israel, due in part to sources saying Israel has agreed not to attack Iran’s oil infrastructure,” said Patrick De Haan , head of petroleum analysis at GasBuddy.

“With the potential of an attack on Iran’s oil infrastructure decreasing as a result, the risk calculus for oil is decreasing, and with continued economic weakness in China providing bearish sentiment, oil prices late last week slipped back below the $70 per barrel mark, opening the door for a longer decline to potentially return to the national average,” he said.

“I’m hopeful that the downward trend will continue again this week for a majority of Americans as we see the average price of gasoline start to make a targeted effort to fall below the $3/gal mark for the first time since 2021.”

More information is available on GasBuddy’s website .

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