West U Gas Prices Drop Again, Now Averaging $3.13 Per Gallon

October 11, 2011

Average retail gasoline prices in West U have fallen another 2.3 cents in the past week, averaging $3.13 per gallon yesterday.

This compares with the national average that dropped 2.1 cents per gallon in the last week to an average of $3.42, according to gasoline price website HoustonGasPrices.com.

While the recent trend has been for gas prices to drop, senior petroleum analyst Patrick DeHaan warned motorists may be in for a “continued roller coaster ride.”

“After oil prices briefly dropped to $75 per barrel in the last two weeks, we’ve seen a mini-rally take place, driving prices up to a more recent mark of $82 per barrel. The volatility we continue to see in oil prices isn’t surprising, and will likely continue as a fragile economy and some upbeat investors play the market,” DeHaan said. “What this means for motorists is a continued roller coaster ride at the gas pump. While I don’t expect a huge of movement in either direction, these up and down fluctuations in gas prices will become the norm ahead of a volatile spring 2012 time period.”

Including the change in gas prices in West U during the past week, prices yesterday were 53.6 cents per gallon higher than the same day one year ago and 28.1 cents per gallon lower than a month ago.

The national average has decreased 24.0 cents per gallon during the last month and stands 61.8 cents per gallon higher than this day one year ago.

InstantNewsWestu Staff

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