West U Area Gas Prices Up – But Expect to Trend Back Down
Average retail gasoline prices in the West U area have risen 2.5 cents in the past week, averaging $3.64 per gallon yesterday.
The local price compares with a national average that increased 1.4 cents per gallon in the last week to $3.80, according to gasoline price website HoustonGasPrices.com.
GasBuddy.com senior petroleum analyst Patrick DeHaan said motorists should expect gas prices to “go on a diet” that will see prices drop.
“Like all diet programs, you may not see immediate loss in the short term, but we’ll likely see some loss in the longer term, say the next several weeks, as factors align in motorists favor,” DeHaan said. “As Isaac has exited without much ado, demand to see seasonal decline, and with cheaper to produce winter-spec higher RVP gasoline coming, there’s light at the end of the tunnel.”
Including the change in gas prices in West U during the past week, prices yesterday were 22.4 cents per gallon higher than the same day one year ago and are 24.6 cents per gallon higher than a month ago.
The national average has increased 20.3 cents per gallon during the last month and stands 12.9 cents per gallon higher than this day one year ago.