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Analyst predicts falling gas prices

Average retail gasoline prices in Wisconsin have fallen 2.6 cents per gallon in the past week, averaging $3.68 yesterday, according to GasBuddy’s daily survey of 3,112 gas outlets in Wisconsin.

This compares with the national average that has fallen 2.3 in the last week to $3.65, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Wisconsin during the past week, prices yesterday were 22.9 cents per gallon higher than the same day one year ago and are 4.1 cents per gallon lower than a month ago. The national average has decreased 0.7 cents per gallon during the last month and stands 17.5 cents per gallon higher than this day one year ago.

“The national average has started a nice downward trend, even as motorists were hitting the road for July 4,” said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. “Yes, gas prices were some of the highest July 4 prices we’ve seen since 2008, they drifted downward in many communities as the holiday approached.

“Over the last week, the national average has fallen almost 4 cents per gallon – a trend that could continue with an absence of hurricanes or disruptions from Iraq, DeHaan added. “Gas prices over the next few weeks could fall more than 10 should the aforementioned situations remain quiet, which is most welcome as the peak of the summer driving season comes into focus.”

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