Gas prices remaining steady in central Illinois

By WEEK Producer

Gas prices remaining steady in central Illinois

January 14, 2013 Updated Jan 14, 2013 at 11:33 AM CDT

PEORIA, Ill. -- Gas prices are staying relatively steady in the Peoria area, according to gas analysts.

The average retail gasoline prices in the area have risen 1 cent per gallon in the past week, averaging $3.23 per galon.  This compares with the national average that has fallen 0.6 cents per gallon in the past week to $3.26.

"The holiday buzz is wearing off and wholesale gasoline prices have fizzled. It appears that this year there will be little change in gas prices between Christmas and mid-January, something that has only happened one out of the last seven years," said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. "Gasoline inventories have rebounded sharply in the past several weeks, certainly a major factor behind the relatively stable gasoline prices. It's hard for prices to rally with the monster increases in supply we've been seeing."

Including the change in gas prices in Peoria during the past week, prices yesterday were 19.6 cents per gallon lower than the same day one year ago and are 0.8 cents per gallon higher than a month ago. The national average has decreased 1.4 cents per gallon during the last month and stands 8.7 cents per gallon lower than this day one year ago.
 

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