WVEL Money Watch: Falling Gas Prices

gas pump(Photo By Flickr User Andrew Taylor)

 

 

Prices at the pump took another dip this past week.

 

Peoria Area residents are now paying $2.18 per gallon.

In Bloomington, the average price is $2.16 per gallon.

Compare this price to the national average of $2.85 and we should have a little extra green in our wallets.

Peoria’s pump costs are down 64 cents from just one month ago, according to GasBuddy.com and cinewsnow.com.

In 2011, we were paying $4.05 per gallon on this same date.

The big change is a high supply and a switch to cheaper, winter blend of gas here in the U.S.

If fact, both GasBuddy and AAA Illinois say that these prices should continue to fall to a low point at the end of the year.

Already, one in four gas stations nationwide is selling for under $2 per gallon.

With this pre-holiday blessing of saving gas, we can surely call this an early winter-season gift that may keep on giving! Happy saving & spend wisely!!

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