Gas Prices Follow Oil Prices Lower

(Undated) — For the first time in three weeks, the nation’s average price of gasoline has decreased as oil prices slip lower. According to GasBuddy Head of Petroleum Analysis, Patrick De Haan, after rising for two straight weeks, the national average price of gasoline saw a slight decline in the last week as oil prices fell below $64 per barrel, paving the way for prices to ease in most states. De Haan says price-cycling markets again saw the largest weekly swings, with Florida and Michigan cycling upward, while Indiana and Ohio experienced sharp declines, but may be due for jumps this week. He says as we approach the peak of hurricane season, forecasts are showing favorable conditions for tropical development, so he’ll be watching closely for any potential impact on supply and prices as Labor Day nears. The current national average is $3.14 a gallon.