Oil Prices Tick Up as Fed Cuts Interest Rate

(Undated) – Gas prices have ticked higher in some states following a jump in oil prices. According to GasBuddy Head of Petroleum Analysis, Patrick De Haan, with oil prices jumping after the U.S. Federal Reserve cut interest rates by a larger-than-expected half percent, some states have seen gas prices inch back up, while others have continued to decline. De Haan says most of these increases should be temporary with declines returning in the days and weeks ahead. He says while the future looks good for gas prices to continue trending lower for most in the weeks ahead, oil’s jump may mute the downside potential just a bit, for now. The current national average is $3.21 a gallon. The statewide average for Illinois is $3.34. It’s $3.15 in Indiana.