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Local Gas Prices Jump by Six Cents in the Past Week | InstantNewsWestU.com

Local Gas Prices Jump by Six Cents in the Past Week

August 14, 2012

Average retail gasoline prices in the West U area jumped 6.0 cents in the past week, averaging $3.50 per gallon as of Monday.

The local price compares with a national average that increased 5.4 cents per gallon in the last week to $3.67, according to gasoline price website HoustonGasPrices.com.

Senior petroleum analyst Patrick DeHaan attributed the increase in prices to “an onslaught of refinery problems.”

“The national average has spiked 25 cents per gallon just in the last month, thanks to an onslaught of refinery problems – mainly in the Great Lakes and California,” DeHaan said. “While these situations are temporary in nature, it goes to show this nation’s dependence on domestic refineries. While oil prices have gained in recent days, there is some light at the end of the tunnel for motorists: driving season will be over in less than a month and soon thereafter the EPA also relaxes gasoline mandates, meaning cheaper winter fuel.”

Including the change in gas prices in West U during the past week, prices yesterday were 4.0 cents per gallon higher than the same day one year ago and are 25.8 cents per gallon higher than a month ago.

The national average has increased 24.8 cents per gallon during the last month and stands 5.7 cents per gallon higher than this day one year ago.

InstantNewsWestu Staff

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