Gas Prices Continue to Slip Lower

(Undated) — Gas prices continue to slip lower as inventories increase. According to GasBuddy Head of Petroleum Analysis, Patrick De Haan, average gas prices declined in nearly all states over the last week as refineries ramped up output and gasoline supplies surged. De Haan says while a few states experienced price cycling, a pattern where prices drop sharply and then spike every couple of weeks, the overall gentle downward trend is typical as summer progresses. He says if oil prices continue to rise gradually, it could eventually impact gas prices, but for now, we likely won’t see any major shifts at the pump in most areas this week. The national average is down a nickel from a month ago and is thirty-three cents per gallon lower than a year ago. The national average price of diesel has also fallen, down two cents in the last week and stands at $3.45 per gallon.