Gas Prices down but still more than Last Year

Gas prices have dropped but remain higher than they were a year ago. Trilby Lundberg of the Lundberg Survey says the average price per gallon is $2.31. That’s down a nickel over the past three weeks; however, Lundberg says last year at this time gas was cheaper. “In addition to this being the low demand period for gasoline, which causes price resistance too, the fact that the price right now is 49 cents above what it was one year ago is also inhibiting for motorists. So, the lack of strong demand right now is another reason that retailers are having trouble passing through wholesale price hikes that they have received.” The U.S. average diesel price is $2.56, down a penny from three weeks ago.