Gas Prices Head Up Again, Now Averaging $3.32 per Gallon

July 24, 2012

Average retail gasoline prices in the West U area jumped 7.0 cents in the past week, averaging $3.32 per gallon yesterday.

This compares with the national average that increased 4.9 cents per gallon in the last week to $3.49, according to gasoline price website HoustonGasPrices.com.

Senior petroleum analyst Patrick DeHaan said the price increase came as no surprise. He also said motorists should not expect to see a decrease any time soon.

“Gasoline prices continue to rise across much of the nation, which is precisely what we had forecast earlier this year, so it does not come as much of a shock,” DeHaan said. “Either way, I don’t expect the national average to break out of its mid-$3 per gallon rut until mid-to-late September, then we may get some action to the downside.”

Including the change in gas prices in West U during the past week, prices yesterday were 25.8 cents per gallon lower than the same day one year ago and are 9.2 cents per gallon higher than a month ago.

The national average has increased 2.4 cents per gallon during the last month and stands 20.1 cents per gallon lower than this day one year ago.

InstantNewsWestu Staff

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