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Gasoline prices resume decline

Average retail gasoline prices in Texas have fallen 1 cent per gallon in the past week, averaging $2.60/g yesterday, according to GasBuddy’s daily survey of 13,114 gas outlets in Texas. This compares with the national average that has fallen 1.1 cents per gallon in the last week to $2.80/g, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Texas during the past week, prices yesterday were 90.9 cents per gallon lower than the same day one year ago and are 9.1 cents per gallon higher than a month ago. The national average has increased 5.4 cents per gallon during the last month and stands 88.9 cents per gallon lower than this day one year ago.

“At long last the national average for a gallon of gasoline has seen a decline in the last week, helped by relief in the Great Lakes, where refinery issues seem to be behind us as several have restarted over the last week,” said Patrick DeHaan, GasBuddy senior petroleum analyst. “Unfortunately, now Oregon and Washington seem to be seeing price increases as supply has become tighter. Overall, gasoline prices remain relatively quiet with the national average dropping just over a penny in the last week. Meanwhile, diesel prices have closed the gap between gasoline prices and have been dropping since the end of May. Diesel is just a nickel or so more expensive than a gallon of gasoline and that’ll likely remain for months,” DeHaan said.