News Column

Weekly Gas Price Update

July 24, 2012

Gas prices rose 5 cents to an average of $3.46 per gallon in the past week in the state of Maryland, according to a press release from GasBuddy.com released this morning.

Nationally, gas prices rose 4.9 cents per gallon to an average of $3.49 per gallon.

Prices were about 23 cents lower in the state than those of a year ago, and 12 cents higher than prices a month ago, according to the weekly update provided by GasBuddy.com. The national average is 20.1 cents lower now than it was a year ago and 2.4 cents higher compared to a month ago.

"Gasoline prices continue to rise across much of the nation, which is precisely what we had forecast earlier this year, so it does not come as much of a shock," said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan.

"Either way, I don't expect the national average to break out of its mid-$3/gal rut until mid-to-late September, then we may get some action to the downside," DeHaan said.



Source: (c) 2012 The Frederick News-Post (Frederick, Md.) Distributed by MCT Information Services


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