Little change in northern New England gas prices

Little change in northern New England gas prices

Average prices on Monday were $2.41 in Broward and Miami-Dade counties and $2.47 in Palm Beach County.

As oil prices plummet, gas prices are falling too, with the nation's average for a gallon of regular unleaded fuel dropping one cent from the week before to $2.30 on Sunday and $2.29 on Wednesday.

Retail gasoline prices in Texas have dropped by 2 cents this week.

The average price of a gallon of regular unleaded fell for ten straight days nationally, but is up a few cents in IL. That's 30.3 cents higher from a year ago and up 1.2 cents in the past month.

Pump prices here and nationwide have drifted lower on increased inventories and declining oil prices, AAA said. As demand starts to rise, "This season trend could push gas prices 25-50 cents higher by June". The lowest price Monday listed at the site was $2.59 a gallon, found at Tacoma's Costco and numerous Tacoma and suburban Arco stations.

Officials also say the current average gas price in IL is 6.2 cents higher than a month ago, and 32.1 cents higher than a year ago.

"A sudden plunge in the price of oil is likely to weigh on gas prices, at least temporarily", said Patrick DeHaan, senior petroleum analyst for GasBuddy.com. More than 10% of US gas stations are charging less than $2.00 a gallon as of Monday morning.

The Bureau of Labor Statistics reported last week that consumer prices have risen 2.7 percent over the past year, the largest price increase since 2012.

"While the drop at the pump is welcome, we're almost guaranteed to see prices rebound well in time for Memorial Day and the start of the summer driving season".

The cheapest gallon of gas in Chattanooga now is $1.89.

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