West U Area Gas Prices Drop Slightly Last Week, Average Now $3.34 per Gallon

July 31, 2012

Average retail gasoline prices in the West U area dropped by a half-penny in the past week, averaging $3.34 per gallon as of yesterday.

The local average compares with a national average that increased 0.4 cents per gallon in the last week to $3.50, according to gasoline price website HoustonGasPrices.com.

Senior Petroleum Analyst Patrick DeHaan said motorists should prepare to dig a little deeper when visiting the pump as prices are expected to again begin increasing as soon as next week.

“While motorists in many regions saw gasoline prices stabilize over the last week, it’s only a matter of time before last week’s rise in wholesale prices translates to a continued march higher on the retail level,” DeHaan said. “The late week rally in stocks seemed to also fuel commodities higher, leading me to believe that pump prices will again pick up over the next week.”

Including the change in gas prices in West U during the past week, prices yesterday were 24.7 cents per gallon lower than the same day one year ago and are 16.6 cents per gallon higher than a month ago.

The national average has increased 12.1 cents per gallon during the last month and stands 20.2 cents per gallon lower than this day one year ago.

InstantNewsWestu Staff

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