Gas prices fall slightly in Peoria - Peoria-area News, Weather, Sports

Gas prices fall slightly in Peoria

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PEORIA, Ill. (WEEK) -- -

Gas prices fell a few cents a gallon in the Peoria area over the past week.

Average gas prices fell 4.1 cents to an average of $2.92 a gallon. Nationally, gas prices fell 3.1 cents to an average of $2.91 a gallon. Gas prices are higher than in the previous few years, but still lower than 2013's $4.10 a gallon average. 

"Gasoline prices continue to fade after peaking just ahead of Memorial Day, largely in part due to previous discussion that OPEC may lift output, pushing oil prices back down to the mid-$60s," said Patrick DeHaan, head of petroleum analysis for GasBuddy. "As we've been expecting for months, gas prices will likely decline in the month of June as summer gasoline inventories continue to build and refiners continue to crank out fuels like gasoline and diesel. A solid majority of states saw average gas prices decline last week, and I expect we'll hold that trajectory again this week."

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