U.S. fuel prices continued their decline for the 11th straight week, with gasoline down five cents a gallon to a national average of $3.81. GasBuddy reports the national average is down 39.8 cents from a month ago but 69.1 cents higher than a year ago. The national average price of diesel has increased 7.3 cents in the last week and stands at $5.04 per gallon. GasBuddy’s Patrick De Haan says, “Gas prices are now $1.20 per gallon lower than mid-June with Americans spending $450 million less on gasoline every day as a result.” However, some issues could change the course of fuel prices moving forward, including the shutdown of BP’s refinery in the Midwest. De Haan says, “While that refinery may get back online sooner rather than later, it’s not impossible that down the road the situation could impact prices in the region.” The rest of the country, however, will see prices moderate.
Fuel Prices Decline Again, Gas Down $1.20 From Peak