PEORIA, Ill. – If you’ve filled up your tank in the last few days, you’ve probably noticed the sting at the pump. Gas prices in Peoria are climbing again, up another six cents in the past week to an average of $4.31 a gallon, according to GasBuddy. AAA Illinois’ price is a penny higher at $4.32.
That’s about a dollar more than what you were paying at this time last year.
Gas prices are hitting the family budget hard, and unfortunately, the relief isn’t coming anytime soon. Analysts are pointing to the ongoing loss of refinery capacity overseas, specifically in Russia, which is tightening the global supply and keeping upward pressure on prices here at home.
It’s getting so expensive that we’re on track to see national gas prices stay above $4 a gallon heading into Labor Day—that would set a new record for the holiday. So, keep an eye on where you fill up; we’re seeing a gap of over 50 cents between the cheapest and most expensive gas locally.
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