MI gas prices fall more than 10 cents in the past week

MI gas prices fall more than 10 cents in the past week

As usual, Pennsylvania is among the top 10 most expensive states for gas (6th), with the average pump price at $2.85 (Feb. 14) for a gallon of regular unleaded.

Looking back last year at this time, gas prices are 25.4 center higher than the same day a year ago and are four-point-six cents higher a gallon than a month ago.

Both now sit below the state average of $2.73 per gallon, which is also down three cents.

The national gas price average has been steadily decreasing for almost two weeks dropping from the year-to-date high of $2.61 (on February 5) to today's national average of $2.53.

San Antonio- $2.20/g, down 6.0 cents per gallon from last week's $2.26/g. The price was $2.09 per gallon at Walmart, 3404 W. Stan Schlueter Loop. This compared to the national average that has fallen five-point-four cents.

Despite the growth over the past two weeks, inventory of both commodities are down by a significant margin compared to this time previous year.

According to AAA, gas prices across MI went down by about $0.11 in the past week.

Nebraska's average price a month ago was $2.54, and a year ago it was $2.33.

Experts at gasbuddy.com say it's a positive trend that may continue as prices continue to catch up the decline in crude oil prices.

DeHaan cautioned, though, that "oil prices have rebounded from their lows and are again strengthening, which may cut the party at the pump short in the weeks ahead". Oil prices were in rally mode again to close last week, with West Texas Intermediate crude oil rising to close the week at $61.68 per barrel, and rising to $62.19 in worldwide trading as USA markets are closed today for the President's Day holiday.

Gas is cheapest in four states, running $2.27 a gallon in Texas, Mississippi, Missouri, and Alabama. Domestic oil production is 14 percent stronger than a year ago, while gasoline production is up 5 percent.

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