West U Area Gas Prices Up 2.5 Cents Last Week

July 10, 2012

After weeks of price decreases, average retail gasoline prices in the West U area have risen 2.5 cents in the past week, averaging $3.20 per gallon yesterday and dashing – at least for now – motorists’ dreams of $3 per gallon gasoline.

West U’s price compares with a national average that has increased 3.8 cents per gallon in the last week to $3.41, according to gasoline price website HoustonGasPrices.com.

Senior petroleum analyst Patrick DeHaan said he doesn’t expect much of a price fluctuation in the near future.

After a dramatic decline in gasoline prices in virtually every region in the past month, gasoline prices have started to rise,” DeHaan said. “While I don’t necessarily believe that the recent uptick in crude prices will stick, I also don’t see prices falling considerably lower until after the conclusion of the summer driving season, when demand declines, and more expensive blends are phased out.”

Including the change in gas prices in West U during the past week, prices yesterday were 28.9 cents per gallon lower than the same day one year ago and are 17.5 cents per gallon lower than a month ago.

The national average has decreased 15.2 cents per gallon during the last month and stands 21.4 cents per gallon lower than this day one year ago.

InstantNewsWestu Staff

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