Analyst: Gas prices may not see a summer decline

gas pump
File Photo. (MGN/WikiCommons)

FORT WAYNE, Ind. (WANE) – Average retail gasoline prices in Fort Wayne have fallen 12.0 cents per gallon in the past week, averaging $3.78 a gallon on Sunday, June 8, 2014 according to GasBuddy’s daily survey of 201 gas outlets in Fort Wayne. This compares with the national average that has fallen 0.9 cents per gallon in the last week to $3.63 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 40.9 cents per gallon lower than the same day one year ago and are 4.1 cents per gallon higher than a month ago. The national average has increased 0.3 cents per gallon during the last month and stands 0.4 cents per gallon lower than this day one year ago.

“It’s been yet another boring week at the pump with gasoline prices seeing relative calm,” said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. “I don’t recall the last time that the national average, which stands at nearly $3.64 a gallon was the same yesterday, a week ago, a month ago, and also a year ago. If you’re a motorist, I’m not sure if seeing such duplicity is bad since prices have remained high, or good, since prices are relatively calm. While I continue to hope for an eventual drop in gasoline prices, the more I’m starting to think that we just won’t see any sort of major summer decline like we have the last few years entering summer,” DeHaan said.

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