in the past week, averaging $2.65/g yesterday. This compares with the national average
that has increased 5.4 cents per gallon in the last week to $2.85/g, according to gasoline
price website
About TexasGasPrices.com.
Including the change in gas prices in Texas during the past week, prices yesterday were
15.8 cents per gallon higher than the same day one year ago and are 1.7 cents per gallon
higher than a month ago. The national average has increased 6.1 cents per gallon during
the last month and stands 20.0 cents per gallon higher than this day one year ago.
"Last week we saw oil prices surpass $87 per barrel after the Federal Reserve announced a
$600 billion injection into the U.S. economy, causing the U.S. dollar to lose value, thereby
pressuring oil and gasoline prices higher," says Patrick DeHaan, GasBuddy.com Senior
Petroleum Analyst. DeHaan says that in addition to the Fed's actions, a Department of
Energy report indicated another drop in U.S. supplies against rising demand. DeHaan also
noted that areas of the Midwest were affected by a fire at a Chicago area refinery, sending
pump prices in some of those areas above $3/gallon for the first time in 25 months. "With
oil prices breaking out of their well established $75$85/barrel range, I'm quite concerned
we could see prices trade in a higher range, perhaps $85$95/barrel for several months,
signaling higher gasoline prices in the future," DeHaan adds.
About TexasGasPrices.com
GasBuddy.com operates over 200 live gasoline pricetracking websites, including
About TexasGasPrices.com. GasBuddy.com was named one of Time magazine's 50 best websites
and to PC World's 100 most useful websites of 2008
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