Gas prices down 8 cents in metro Detroit

Gas prices down 8 cents in metro Detroit

Gas prices down 8 cents in metro Detroit

GasBuddy's daily survey of more than 1,200 gas outlets in ME found that average retail gasoline prices in the state have fallen 5.3 cents in the past week to an average of $2.55 per gallon.

Tuesday's national gas price average is four cents less than one week ago, one cent more than a month ago, and 25 cents more than a year ago.

Metro Detroit's average daily gas price decreased about 8 cents.

Despite the recent drops, NY state's average gas price Sunday was still 3.7 cents higher than a month earlier and 26.9 cents higher than a year ago. Founded in 2000, the original GasBuddy website was a pioneer in crowd-sourced information, leveraging technology, big data, and a passionate community that now connects more than 70 million users with real-time, accurate fuel pricing information as well as reliable reviews of gas station amenities and services.

"For the third time this year, Texas ranks as having the lowest statewide gas price average in the nation", said. During this time, refineries reduce output while they conduct scheduled maintenance on their equipment. Motorists in almost every state are paying less on the week with Midwest and Southern states seeing the largest price drops at the pump.

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However, warmer weather, increased travel and upcoming spring and summer holidays could also contribute to higher prices at the pump in a few months.

Patrick DeHaan of said gas prices are catching up to a decline in crude oil prices.

Asked about the downward shift in AAA's forecast, Jenkins replied, "The fact still remains that refinery maintenance season can cause prices to spike anywhere from 30 to 70 cents, but based on recent gains in domestic oil and gasoline production rates, we are leaning on the more conservative end of that range".

Crude oil prices rose a total of $2.48 per barrel on the NYMEX last week, closing at $61.68 on Friday. Oil inventory is down more than 18 percent, while gasoline is down 4 percent, signifying a large increase in USA exports.

The average price for a gallon of regular unleaded on Monday in Manatee County.

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