Gas Prices-Week of 9/6/10

by Free Speech on September 8, 2010

Lodi, WI~

Lodi Valley News serving Lodi, WI & the Lake Wisconsin area with local information since Earth Day 2008.

Average retail gasoline prices in Wisconsin have risen 1.2 cents per gallon in the past week, averaging $2.68/g yesterday. This compares with the national average that has fallen 0.2 cents per gallon in the last week to $2.68/g, according to gasoline price website WisconsinGasPrices.com.

Including the change in gas prices in Wisconsin during the past week, prices yesterday were 11.9 cents per gallon higher than the same day one year ago and are 10.9 cents per gallon lower than a month ago. The national average has decreased 9.3 cents per gallon during the last month and stands 11.4 cents per gallon higher than this day one year ago.

“With gasoline supply closing the summer driving season out at the highest levels since records began in 1990, there will be significant pressure for prices to fall, especially if hurricane season doesn’t make a large impact on high supply numbers,” says Patrick DeHaan, GasBuddy.com Senior Petroleum Analyst. “Combine those high supply numbers with typically weak autumn gasoline demand numbers, and fundamentals easily merit lower gasoline prices than we’re currently seeing,” he says. DeHaan projects that average prices across the U.S. could fall as much as 10-20 cents per gallon in the next four to eight weeks as refiners move out cheaper winter gasoline. He says that while hurricane season is something that could temporarily impact gasoline prices, any impact would be very short lived given the high supply and weak demand of gasoline.

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