Gas prices not expected to go above$3.50 rest of year

Staff Writer
Woodford Times

Average retail gasoline prices in Peoria have fallen 6.4 cents per gallon in the past week, averaging $3.24 per gallon yesterday. This compares with the national average that has fallen 4.1 cents per gallon in the last week to $3.32 per gallon, according to gasoline price website PeoriaGasPrices.com.

Including the change in gas prices in Peoria during the past week, prices yesterday were 44.4 cents per gallon higher than the same day one year ago and are 22.1 cents per gallon lower than a month ago. The national average has decreased 14.4 cents per gallon during the last month and stands 46.3 cents per gallon higher than this day one year ago.

"The national average in the U.S. is at its lowest since February 25, but remains at record highs for this time of year," GasBuddy.com Senior Petroleum Analyst Patrick DeHaan, said.

"While the downtrend in gasoline prices has certainly been welcome news for motorists, I see the trend short lived, and believe we may see continued volatility in the days ahead, but even with said volatility I do expect many Americans will see average prices between $3.25-$3.50 for the rest of 2011."