An Early Christmas Gift For Drivers: Dropping Gas Prices
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DETROIT (WWJ) – Just a little over two weeks before Christmas, drivers are getting to keep a little more money in their pockets.
According to gasoline price website DetroitGasPrices.com, average retail gas prices in Detroit have fallen 6.5 cents per gallon in the past week, averaging $3.38 per gallon on Sunday. This compares with the national average of $3.34 per gallon, falling 4.8 cents per gallon in the last week.
Including the change in gas prices in Detroit during the past week, prices on Sunday were 7.6 cents per gallon higher than the same day one year ago and 8.7 cents per gallon lower than a month ago. The national average has decreased 12.2 cents per gallon during the last month and stands 5.5 cents per gallon higher than this day one year ago.
“The national average has continued to see a steady decline over the last week, and that trend will likely continue through this week at the very least,” said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. “Last week, the Energy Information Administration reported one of the largest single week increases in gasoline inventories in my recent memory, which will likely contribute downward pressure to wholesale gasoline prices in the days and perhaps weeks ahead,” DeHaan said.