Rate of Gas Price Increase Slowing but Still Up Two Cents, Now at $3.87 per Gallon

April 3, 2012

The price of a gallon of gasoline continued its march toward the $4 mark, increasing another two cents in the past week.

As of yesterday, the average cost for a gallon of unleaded regular in West U stood at $3.87.

That price compares with a national average that increased 3.2 cents in the last week to $3.89 per gallon, according to gasoline price website HoustonGasPrices.com.

While gas prices continued their upward trend, senior petroleum analyst Patrick DeHaan said the rate of the recent increase appears to be slowing.

“The national average has finally showed some signs of slowing down, and gasoline prices in dozens of areas have virtually stabilized after rising for two to three consecutive weeks,” DeHaan said. “The rally in gasoline prices started in March, we could have dubbed it March Madness, to coincide with the flurry of college basketball games, but as the tournament winds down, gasoline prices too have slowed their increase, and maybe – just maybe – gasoline prices are closer to a peak than we initially expected.”

Including the change in gas prices in West U during the past week, prices yesterday were 30.2 cents per gallon higher than the same day one year ago and 31.0 cents per gallon higher than a month ago.

The national average has increased 18.6 cents per gallon during the last month and stands 26.8 cents per gallon higher than this day one year ago.

InstantNewsWestu Staff

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