Gas prices fall nearly 20 cents in the past week

gas pump
File Photo. (MGN/WikiCommons)

FORT WAYNE, Ind. (WANE) Average retail gasoline prices in Fort Wayne have fallen 17.0 cents per gallon in the past week, averaging $3.72 a gallon on Sunday, June 22, 2014 according to GasBuddy’s daily survey of 201 gas outlets in Fort Wayne. This compares with the national average that has increased 2.6 cents per gallon in the last week to $3.68 a gallon according to gasoline price website GasBuddy.com which supplies prices for wane.com’s Gas Gauge.

Including the change in gas prices in Fort Wayne during the past week, prices Sunday were 16.0 cents per gallon higher than the same day one year ago and are 11.5 cents per gallon lower than a month ago. The national average has increased 4.6 cents per gallon during the last month and stands 10.9 cents per gallon higher than this day one year ago.

“While concerns in Iraq have led to higher prices in many areas across the nation in the last week, a new concern has come to light: a possible increase in the federal gasoline tax,” said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. “Suddenly, there are a few different situations that bear monitoring that could have an impact at the pump: Iraq, the Feds (raising gas taxes), and the peak of hurricane season, which is coming soon. While this week at the pump could be a quiet one, especially if there’s no major Iraq news, motorists still face the threat of higher prices later in the summer, and watching lawmakers debate raising gasoline taxes certainly is worth monitoring,” DeHaan said.

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