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Weekly Gas Prices up, Diesel Down

For the second straight week, gas prices climbed higher, with the nation’s average gas price posting a rise of 11.1 cents from a week ago to $3.78 per gallon. The national average is up 0.4 cents from a month ago and 59.8 cents higher than a year ago. However, the national average price of diesel declined 2.9 cents in the last week and stands at $4.86 per gallon. GasBuddy’s Patrick De Haan says despite the higher gas prices, “areas of the Northeast and Gulf Coast have continued to see declines as the nation experiences sharp differences in trends between regions.” Prices continued to surge on the West Coast and Great Lakes last week. De Haan is hopeful prices will fall, but does caution that OPEC could decide to cut oil production by a million barrels as the global economy slows down. Meanwhile, U.S. retail gasoline demand fell 1.8 percent last week, according to GasBuddy.

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