Gas Prices Down Again, Now Average $3.63 in West U Area

May 15, 2012

Average retail gasoline prices in the West U area have fallen again, this time by 5.8 in the past week.

As of yesterday, the average price for a gallon of unleaded regular was $3.63.

The West U price compares with a national average that fell 3.3 cents in the last week to $3.73 per gallon, according to gasoline price website HoustonGasPrices.com.

Despite the recent drop in prices, senior petroleum analyst Patrick DeHaan said supply remains tight.

“While gasoline prices east of the Rockies have been falling, the West Coast remains at the mercy of refinery production. The entire West Coast right now is looking for any reason for a continuation in the price rally we’ve seen in the last week as supply remains tight and stakes high as Memorial Day weekend is just two weeks away,” DeHaan said. “While pump prices may continue their decline outside the West Coast, any refinery blip certainly has the potential for localized hotspots, and motorists should be aware of that.”

Including the change in gas prices during the past week, prices in West U yesterday were 22.9 cents per gallon lower than the same day one year ago and are 22.1 cents per gallon lower than a month ago.

The national average has decreased 16.5 cents per gallon during the last month and stands 20.3 cents per gallon lower than this day one year ago.

InstantNewsWestu Staff

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