Gas prices ease up

Published 10:24pm Monday, January 23, 2012

Average retail gasoline prices in Michigan have fallen 13.8 cents per gallon in the past week, averaging $3.38 per gallon Sunday.
This compares with the national average that has increased 0.6 cents per gallon in the past week to $3.34 per gallon, according to gasoline price website
Including the change in gas prices in Michigan during the past week, prices Sunday were 27.2 cents per gallon higher than the same day one year ago and are 5.5 cents per gallon higher than a month ago.
The national average has increased 11.8 cents per gallon during the last month and stands 25.3 cents per gallon higher than this day one year ago.
“We saw oil prices fall gently late last week as tensions with Iran seemingly have cooled somewhat,” said Patrick DeHaan, a senior petroleum analyst Patrick DeHaan.
“I’m certainly hopeful that the recent easing in tensions between Iran and the West continues in coming months, but there are certainly no guarantees and few expectations of such.
“Having said that, I expect gasoline prices to move very little in the next week, and, in some areas of the U.S., gasoline prices may fall this week,” DeHaan said.


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