West U Area Gas Prices Drop Again, Now Average $3.43 per Gallon

June 5, 2012

Average retail gasoline prices in the West U area have fallen another 5.2 cents in the past week, averaging $3.43 per gallon yesterday.

This compares with the national average that has fallen 4.5 cents per gallon in the last week to $3.61, according to gasoline price website HoustonGasPrices.com.

Senior petroleum analyst Patrick DeHaan said he expects the downward trend to continue for the near future.

“An impressive decline in average gasoline prices will now be extended as the West Coast begins to see lower prices in the days ahead,” DeHaan said. “With significant downward pressure on oil prices last week, motorists will continue to see prices sliding east of the Rockies, and even the West Coast will start to get in on the action, thanks to a supply situation that appears to be turning around. Also pushing down oil prices last week was a frightening jobs report, as well as continued concerns about European debt problems.”

Including the change in gas prices in West U during the past week, prices yesterday were 14.2 cents per gallon lower than the same day one year ago and are 28.8 cents per gallon lower than a month ago.

The national average has decreased 18.2 cents per gallon during the last month and stands 16.2 cents per gallon lower than this day one year ago.

InstantNewsWestu Staff

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