Seesaw Gas Prices Are Up – Yet Again
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DETROIT (WWJ) – Seesaw gas prices are up yet again.
According to the gasoline price website DetroitGasPrices.com, average retail gas prices in Detroit have risen just over 5 cents per gallon in the past week, and are now averaging $3.54 a gallon in the Motor City. Just a week ago, the website reported that gas prices had fallen 4.2 cents per gallon and were averaging $3.50 per gallon in Detroit.
Including the change in gas prices during the past week, prices yesterday were 34.7 cents per gallon higher than the same day one year ago and are 17.3 cents per gallon higher than a month ago. The national average has decreased 14.1 cents per gallon during the last month and stands 11.0 cents per gallon higher than this day one year ago.
“While Thanksgiving 2012 is now behind us, the stigma of record high gasoline prices is not,” said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. “Thanksgiving Day 2012 featured the highest ever daily average for the holiday, beating out 2011 by over 10-cents per gallon. The national average may continue to moderate slightly by Christmas, but I’m not expecting significant decreases or increases in the national average in the short term at this point. There are several factors putting both upward pressure and downward pressure on oil and gasoline, and I expect some fluctuation in prices, but overall, there will likely not be much change between today and Christmas,” DeHaan said.
In other words, motorists can expect to continue to dig deeper into their pockets to gas up — at least for the foreseeable future.