Memorial Day gas price forecast

gas pump
File Photo. (MGN/WikiCommons)

FORT WAYNE, Ind. (WANE) Average retail gasoline prices in Fort Wayne have risen 18.9 cents per gallon in the past week, averaging $3.70 a gallon on Sunday, May 11, 2014 according to GasBuddy’s daily survey of 201 gas outlets in Fort Wayne. This compares with the national average that has fallen 1.8 cents per gallon in the last week to $3.62 a gallon according to gasoline price website GasBuddy.com which powers wane.com’s Gas Gauge.

Including the change in gas prices in Fort Wayne during the past week, prices Sunday were 11.9 cents per gallon lower than the same day one year ago and are 4.3 cents per gallon higher than a month ago. The national average has increased 2.9 cents per gallon during the last month and stands 4.9 cents per gallon higher than this day one year ago.

“Pump prices have continued to recede across much of the country, although decreases have been small so far,” said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. “The national average peaked in the closing days of April and has moved down a few cents per gallon, and we’ll likely continue to see prices dropping as we approach Memorial Day. California continues to see the largest decreases thanks to increasing supply and falling wholesale prices. On the other hand, Oregon and Washington may see slight increases in prices as supply remains tight. The national average by Memorial Day will be between 5-10 cents per gallon lower than today, which would represent a nice decrease over where gasoline prices were on Memorial Day 2013,” DeHaan said.

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