Chesterton Tribune

 

 

Gas prices up in Gary, down across the country

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GasBuddy.com is reporting that average retail gasoline prices--according to a daily survey of 314 outlets in Gary--have risen 9.5 cents per gallon in the past week, averaging $2.46 per gallon.

This compares to the national average of $2.44 per gallon, which fell 1.6 cents per gallon in the last week.

Including the change in gas prices in Gary during the past week, prices yesterday were 37.8 cents per gallon higher than the same day one year ago and are 13.4 cents per gallon higher than a month ago. The national average has decreased 12.0 cents per gallon during the last month and stands 22.2 cents per gallon higher than this day one year ago.

According to GasBuddy historical data, gasoline prices on Oct. 23 in Gary have ranged widely over the last five years: $2.09 2016, $2.24 in 2015, $3.03 in 2014, $3.31 in 2013, and $3.40 in 2012.

Areas near Gary and their current gas price climate:

Rockford: $2.44, up 3.8 cents per gallon from last week’s $2.41.

South Bend: $2.52, up 9.6 cents per gallon from last week’s $2.42.

Chicago- $2.71, up 5.9 cents per gallon from last week’s $2.65.

“The national average gas price is lower for the sixth straight week, the longest such decline since the summer of 2016,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “Perhaps even more wild is that the national average has now remained under $3 per gallon for nearly 3 years, or 1,087 days as the days of cheap oil have continued.”

“While recent actions from OPEC may cause oil prices to hold above the key $50 per barrel level, there is no threat of a quick return to the $3 per gallon days,” DeHaan added. “In fact, the national average may continue to decline for a few weeks before leveling off as gasoline inventories continue to heal after Harvey.”

“The future isn’t all roses, however,” DeHaan said. “Some areas of the Midwest have seen prices rise as refineries undergo seasonal maintenance and inventories in the region remain tight, keeping prices elevated. Regional hotspots like this may continue in the weeks ahead as gas stations come closer to fully passing along lower gas prices after Harvey and now become subject to new factors driving prices up and down.”

For live fuel price averages, visit http://FuelInsights.GasBuddy.com

 

 

Posted 10/23/2017

 
 
 
 

 

 

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