Gas prices on slow decline following Hurricane Harvey

Ivan Schwartz
September 26, 2017

The Detroit-area's average fell about 9 cents to $2.43 per gallon. MI tied with DE, which also had a 10-cent drop, for the biggest one-week decline.

Despite the drop, Florida drivers are still handing over 52 cents more per gallon than this time previous year, illustrating the lagging effects of Hurricanes Irma and Harvey to the petroleum industry. AAA put the average at $2.73 while GasBuddy.com put the Miami average at $2.71, down 3.9 cents from where its average last week.

"While oil prices have gained momentum in the last few weeks, it will not be enough to stymie the continued decline at gas pumps, which will bring the national average down another 5 -10 cents in the week ahead", Patrick DeHaan, a senior petroleum analyst for GasBuddy, said in a news release.

Gas prices remain steady in the Midland-Odessa area.

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It's unclear just how low prices will go. But for those motorists in those states- Michigan, Indiana, Ohio and Kentucky- prices may temporarily bounce back up in the next day or two as stations reset their prices.

But, by Thanksgiving, DeHaan predicted: "We'll see prices bouncing around in the low $2's".

Gas prices in the Bradenton-Sarasota-Venice market have fallen about 5 cents from a week ago, with additional declines on the horizon. That is 3.5 cents cheaper than the average price per gallon in Denver on September 17, the price tracking company reports.

States with the highest average gas prices: California, $3.12; Hawaii, $3.06; Alaska, $3.04; Washington, $3; Nevada, $2.92; OR, $2.86; CT, $2.84; Pennsylvania, $2.81; NY, $2.76, and Idaho, $2.74.

Other reports by GizPress

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