From the community

GasBuddy: Retail gas prices fall 2.3 cents per gallon

Posted May 13, 2014, at 10:19 a.m.

Maine, May 12- Average retail gasoline prices in Maine have fallen 2.3 cents per gallon in the past week, averaging $3.70/g yesterday, according to GasBuddy’s daily survey of 1,228 gas outlets in Maine. This compares with the national average that has fallen 1.8 cents per gallon in the last week to $3.62/g, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Maine during the past week, prices yesterday were 18.6 cents per gallon higher than the same day one year ago and are 5.8 cents per gallon higher than a month ago. The national average has increased 2.9 cents per gallon during the last month and stands 4.9 cents per gallon higher than this day one year ago.

“Pump prices have continued to recede across much of the country, although decreases have been small so far,” said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. “The national average peaked in the closing days of April and has moved down a few cents per gallon, and we’ll likely continue to see prices dropping as we approach Memorial Day. California continues to see the largest decreases thanks to increasing supply and falling wholesale prices. On the other hand, Oregon and Washington may see slight increases in prices as supply remains tight. The national average by Memorial Day will be between 5-10 cents per gallon lower than today, which would represent a nice decrease over where gasoline prices were onMemorial Day 2013,” DeHaan said.

About GasBuddy

This post was contributed by a community member. Submit your news →

ADVERTISEMENT | Grow your business
ADVERTISEMENT | Grow your business

Similar Articles

More in Business