Gas Prices on the Peoria.com Forums - Page 3

Was that near the airport? They love to charge the tourists more before they return their rental cars.

Chicago Loop $4.79

Hannibal MO $3.79

No joke.

Verified... I was down in that direction this time last week

4.09 lincoln diesel fuel is 4.05

So, oil is less than it was 3 years ago (It was 140.00 a barrel vs 125.00 now), production is higher (Saudi Arabia has increased production) and prices are still going up?

Driving thru Peoria on Knoxville today. Gas went up another .20 to $4.29. North Peoria (Krogers and up) were still at $4.09. Fill up now!!

eah, I seen that. 4.28 at the BP I used to work at.....
Unreal....

Just assuming good ol' oil company greed has nothing to do with it, would inflation play a part in this?

It is inflation due to the very low value of the dollar= the dollar will continue to get weaker until the deficit can brought under control.

Yes 'inflation' is part of it vis-a-vis the trading value of the dollar versus other currencies.

While there is a global marketplace for straight up oil traded on exchanges, there is also a global marketplace for refined gasoline on exchanges. So it is quite possible for demand in refined gasoline to go up faster than barrels of oil.

The locations of refineries to the increased demand can further drive up the price. The farther you have to ship it, the more costly it will be. There have been some refineries shut down in Texas which hurt supplies.

Or does it have anything to do with Exxon and Shell reporting HUGE increases in profit in the first quarter?

ours just dropped to 3.99

It is amazing that while Peoria goes up, Pekin goes down.

Exxon and Shell don't 'set' the price but they sure do benefit from it prices go up. Just like farmers do when grain prices go up.

Gas was $4.29 when I left Peoria...it was $4.09 in Morton. I topped off just in case they go up here.