Gas Prices Trending Back Down Following Spike

gas-prices-up

(Undated) – Gas prices continue to trend downward following weeks of rising prices. GasBuddy Head of Petroleum Analysis, Patrick De Haan, says after a sharp rise in the national average over the last few weeks, we’ve seen an abrupt, yet expected decline. He says we’ll see a continued sharp drop in gas prices as refinery outages have been addressed. In addition, oil prices have cooled off slightly after OPEC decided to cut production. However, De Haan says diesel and heating oil prices are likely to continue to rise as extremely low inventories of “middle of the barrel” products like these push prices higher. The current national average is $3.88 a gallon. Prices remain above the four-dollar mark in Illinois and Indiana at $4.32 and $4.07 respectively.