Analysts say gas prices are falling - KPLC 7 News, Lake Charles, Louisiana

Analysts say gas prices are falling

Gas prices  (Source: WAFB) Gas prices (Source: WAFB)
Chicago, IL (WAFB) - Good news for drivers. Gas prices are falling, according to GasBuddy.

The U.S. average retail price of gasoline has fallen below $3.60 per gallon for the first time since April 10. Prices have been on an 18-consecutive day streak where the current price was less than the price from the previous day and it’s the highest number of consecutive down days since the period between April 4, 2013 and April 19, 2013. The U.S. average which is now $3.59 per gallon has dropped by five cents in the past week.

“West Texas Intermediate crude, the benchmark for the U.S., traded below $100 per barrel today for the first time since April, reflecting a slow but steady decline in recent weeks,” said Patrick DeHaan, senior petroleum analyst for GasBuddy. “Over the same period, we’ve seen wholesale crude prices across the country slip dramatically. West Coast wholesale prices have fallen by more than 35 cents per gallon since the beginning of the month, and across the rest of the country wholesale prices have fallen by 15 to 20 cents per gallon.”

“We’re confident that in coming weeks we’ll see retail prices catch up to the wholesale losses. West Coast consumers will likely see their retail prices slide from 15 to 25 cents per gallon over the next two weeks, and across the rest of the country we can expect prices at the pump to shed from 10 to 20 cents per gallon,” DeHaan said.


 Copyright 2014 WAFB. All rights reserved.

  • More Local NewsNewsMore>>

  • FIRST ALERT FORECAST: Beautiful day today with rain arriving later this week!

    FIRST ALERT FORECAST: Beautiful day today with rain arriving later this week!

    Tuesday, March 28 2017 4:44 AM EDT2017-03-28 08:44:37 GMT
    Skies clear this afternoonSkies clear this afternoon

    Today will be a warm and humid day with highs topping out in the low 80s. We will start today off with mostly cloudy skies, but the clouds will clear and we will have sunny skies by the afternoon. It should be a beautiful day to get outside! The next storm system will approach our area late Wednesday and should move through early Thursday.  Ahead of this it will be warm and humid with lows in the upper 60s and highs in the low 80s.  

    More >>

    Today will be a warm and humid day with highs topping out in the low 80s. We will start today off with mostly cloudy skies, but the clouds will clear and we will have sunny skies by the afternoon. It should be a beautiful day to get outside! The next storm system will approach our area late Wednesday and should move through early Thursday.  Ahead of this it will be warm and humid with lows in the upper 60s and highs in the low 80s.  

    More >>
  • North Lake Charles Board wants to talk with mayoral candidates

    North Lake Charles Board wants to talk with mayoral candidates

    Tuesday, March 28 2017 12:07 AM EDT2017-03-28 04:07:42 GMT
    (Source: KPLC)(Source: KPLC)

    There's lots of talk these days about developing North Lake Charles. 

    More >>

    There's lots of talk these days about developing North Lake Charles. 

    More >>
  • Magnolia LNG at Port of Lake Charles closer to being a reality

    Magnolia LNG at Port of Lake Charles closer to being a reality

    Monday, March 27 2017 11:57 PM EDT2017-03-28 03:57:32 GMT
    (Source: Magnolia LNG)(Source: Magnolia LNG)

    A liquified natural gas export terminal to be built at the Port of Lake Charles is a step closer to reality. At Monday's port meeting, the board of directors approved the signing of  a 30-year ground lease with Magnolia LNG. Board members said it's a positive sign that Magnolia LNG is willing to take the next step - from lease option to actual lease. Construction on the Magnolia facility is expected to begin later this year, bringing 100 construction jobs and 70 permanent jobs ...

    More >>

    A liquified natural gas export terminal to be built at the Port of Lake Charles is a step closer to reality. At Monday's port meeting, the board of directors approved the signing of  a 30-year ground lease with Magnolia LNG. Board members said it's a positive sign that Magnolia LNG is willing to take the next step - from lease option to actual lease. Construction on the Magnolia facility is expected to begin later this year, bringing 100 construction jobs and 70 permanent jobs ...

    More >>
Powered by Frankly