Down Nearly a Dime in a Week

Why You've Been Paying Less for Gas

By Peter Neumann

Why You've Been Paying Less for Gas

September 24, 2012

DETROIT, Mi. (My TV20 News at Ten) --- Average retail gasoline prices in Detroit have fallen nearly ten cents a gallon in the last week, averaging $3.93 a gallon Sunday.

This compares with the national average that has fallen 4.3 cents per gallon in the last week to $3.81/g, according to gasoline price website DetroitGasPrices.com.

Including the change in gas prices in Detroit during the past week, prices yesterday were 45.4 cents per gallon higher than the same day one year ago and are 2.4 cents per gallon higher than a month ago. The national average has increased 8.8 cents per gallon during the last month and stands 29.0 cents per gallon higher than this day one year ago.

"The national average has begun to drop nicely over the last week, and while it certainly doesn't feel like much, it is noteworthy," said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. "Oil prices were all over the map last week, closing in on $100/bbl one day and dropping to $92/bbl later in the week. I've probably had more double takes watching oil prices in the last week than I've had all summer. Watching oil prices last week was as wild as watching the Detroit Tigers try to take a division lead over the White Sox," DeHaan said.

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