Gas Prices Drop Once Again, Now Average $3.31 in West U Area

June 19, 2012

Average retail gasoline prices in West U have fallen another 5.3 cents in the past week, averaging $3.31 per gallon as of yesterday.

The local price compares with a national average that has fallen 3.2 cents per gallon in the last week to $3.53, according to gasoline price website HoustonGasPrices.com.

Senior petroleum analyst Patrick DeHaan said this weekend’s election in Greece may affect future gas price trends.

“I have a sneaking suspicion that the election in Greece may stir up oil prices this week, and we could see oil prices gain as markets feel more upbeat about the economic situation,” DeHaan said. “While any gains in oil prices won’t likely be immediately felt, the debt situation in Europe bears keeping a close eye on as it has far reaching global implications. Outside of that situation, West Coast wholesale gasoline prices are now among the lowest in the nation with California, Oregon, and Washington seeing their averages drop back under $4 per gallon, while the nation’s midsection may see prices rising in the week ahead.”

Including the change in gas prices in West U during the past week, prices yesterday were 19.5 cents per gallon lower than the same day one year ago and are 27.1 cents per gallon lower than a month ago.

The national average has decreased 17.6 cents per gallon during the last month and stands 12.6 cents per gallon lower than this day one year ago.

InstantNewsWestu Staff

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