Gas Prices Keep Dropping: A Closer Look at Recent Trends
The Current State of Gas Prices
The latest reports indicate that gas prices keep dropping. For instance, the Peoria area has witnessed a notable decline of 5.4 cents per gallon over the last week, leading to an average of $3.43 per gallon. This represents a drop of about 24.1 cents compared to last month and a remarkable decrease of 33.2 cents from last year.
National Trends in Gas Prices
- The national average price of diesel has also seen a decrease, currently standing at $3.55 per gallon after a 2.1 cent drop.
- The cheapest station in the Peoria area offers gas at $3.09 per gallon, while the most expensive is priced at $3.79 per gallon.
- Across the U.S., the average price of gas is approximately $3.16 per gallon, with Illinois' average matching Peoria's at $3.43.
Forecasting Future Gas Prices
As gas prices keep dropping, many are left wondering about the sustainability of this trend. Experts indicate that various factors including global oil prices and seasonal demand will play significant roles in determining future pricing.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.