Last Week’s Increase in Gas Prices a Surprise, Expert Says

From GasBuddy.com

Average retail gasoline prices in New York have risen 2.2 cents per gallon in the past week, averaging $3.52/g Monday, according to GasBuddy’s daily survey of 6,118 gas outlets in New York. This compares with the national average that has increased 1.6 cents per gallon in the last week to $3.21/g, according to gasoline price website GasBuddy.com.

Including the change in gas prices in New York during the past week, prices yesterday were 38.7 cents per gallon lower than the same day one year ago and are 7.3 cents per gallon lower than a month ago. The national average has decreased 16.3 cents per gallon during the last month and stands 22.5 cents per gallon lower than this day one year ago.

“Surprisingly, the decreases we’ve seen in the national average have all but dried up,” said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. “I admit, it’s a bit of a head scratcher to have seen wholesale gasoline prices perk up last week, and it’s a bit premature to say we’ve seen the end of decreases in gas prices for the time being, so I’m hopeful that an uptick in the national average is merely temporary, but then again, this year has featured trends in prices that have all been earlier than expected,” DeHaan said.

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