Gas Prices Continue Downward Trend

(Undated) – Gas prices continue to slip lower and GasBuddy Head of Petroleum Analysis, Patrick De Haan says our “spring peak” appears to be more confidently behind us. De Haan says while refinery utilization rates last week indicated that there is still some refinery maintenance work to be done, oil prices have helped put downward pressure on gasoline prices, with oil falling below $80 per barrel last week. In addition, a weaker-than-expected jobs report is adding to some concerns that gasoline demand could remain weak through the summer driving season, which begins in just a few weeks. He says with the seasonal factors behind us, looking ahead, we expect gasoline prices to continue cooling alongside diesel prices as we look forward to Memorial Day weekend.