Monday, August 15, 2011

Gas Prices Falling - Still Higher In Hendry-Glades

Expect 10 Cent Higher Than Average In Hendry-Glades

Average retail gasoline prices in Florida have fallen 6.1 cents per gallon in the past week, averaging $3.58/g yesterday. This compares with the national average that has fallen 4.7 cents per gallon in the last week to $3.60/g, according to gasoline price website

Including the change in gas prices in Florida during the past week, prices yesterday were 91.3 cents per gallon higher than the same day one year ago and are 6.2 cents per gallon lower than a month ago. In Hendry-Glades counties the prices are still a dollar higher than one year ago. The national average has decreased 6.7 cents per gallon during the last month and stands 85.4 cents per gallon higher than this day one year ago.

"After watching oil decline dramatically two weeks ago, prices rebounded some $12/bbl last week, which may severely limit relief at the gas pump," says Patrick DeHaan, Senior Petroleum Analyst. "The smallest sliver of hope in the economy seems to make some market players forget the bigger issues this country faces. Last week, this situation led to buying spree in oil prices, something that I just don't see lasting," DeHaan adds.

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