PEORIA, Ill. (HOI) — After dropping for the last seven weeks, gas prices are going up in the Heart of Illinois.
Gasbuddy.com reports prices rose 4.6 cents last week to an average of $2.62/gallon. That is 3.8 cents per gallon lower than a month ago, but 57.2 cents per gallon higher than a year ago.
Prices also went up nationally 1.6 cents per gallon to an average of $2.57/gallon. That is two cents per gallon lower than a month ago, but 32.3 cents per gallon higher than a year ago.
“The streak has been broken: for seven straight weeks we saw the national average drop, but the fun has come to an end as oil prices continue to show strength into the last days of 2019 boosting the national average this past week,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “Prices jumped thanks to a notable, yet anticipated drop in oil inventories, sending oil to multi-month highs above $61 and gasoline prices following. However, weakness will likely return to gasoline prices in January and February as demand weakens, so perhaps all is not lost. As we say goodbye to 2019, here are some interesting figures from this decade: the U.S. consumed 1.25 trillion gallons of gasoline, which is enough volume to raise Lake Superior’s level 2.3 inches, having spent $3.625 trillion on gasoline alone, and driving 31.25 trillion miles, enough for 5,208 round trips to Pluto on the consumed gasoline. With 2019 nearly behind us, many are asking what lays ahead for 2020? GasBuddy will be releasing our 2020 Fuel Outlook this week, and in it, answers to many asked questions about how bad gas prices will get over the coming 365 days.”