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West U Area Gas Prices Up Just Over a Penny, Average $3.54 per Gallon | InstantNewsWestU.com

West U Area Gas Prices Up Just Over a Penny, Average $3.54 per Gallon

August 28, 2012

Average retail gasoline prices in the West U area have risen 1.1 cents in the past week, averaging $3.54 per gallon as of yesterday.

The local price compares with a national average that has increased 3.0 cents per gallon in the last week to $3.73, according to gasoline price website HoustonGasPrices.com.

GasBuddy.com Senior Petroleum Analyst Patrick DeHaan said the hurricane currently in the Gulf of Mexico may have an impact on prices.

“Well, for those that have noticed, the national average has perked up slightly in the last week as oil prices have advanced. While that may be notable, soon-to-be Hurricane Isaac will be the story this week,” DeHaan said. “It’s entirely within the realm of possibility that we see refinery outages, oil production losses, and gasoline supply issues – essentially all the things you don’t want to happen. While this storm doesn’t currently appear as powerful as other storms that have caused similar concern – we’re continuing to watch the situation develop. One thing is for sure – I’m concerned that this storm will temporarily drive prices higher in the short term.”

Including the change in gas prices in West U during the past week, prices yesterday were 13.2 cents per gallon higher than the same day one year ago and are 19.5 cents per gallon higher than a month ago.

The national average has increased 23.3 cents per gallon during the last month and stands 11.8 cents per gallon higher than this day one year ago.

InstantNewsWestu Staff

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