Gas Prices Are Falling Again
DETROIT (WWJ/AP) - The average price of a gallon of gas is falling again.
According to AAA Michigan, gas prices have fallen approximately 2 cents during the past week to a statewide average of about $3.49 per gallon. The website DetroitGasPrices.com says average retail gas prices are averaging $3.42 per gallon in Detroit. The website says the national average is $3.56, having fallen 9.6 cents per gallon in the past week.
As far as what impact Hurricane Sandy will have on gas prices, that remains an uncertainty at this point.
"With Hurricane Sandy headed for (the) East Coast, there are a number of uncertainties in regards to the impact at the pump for various fuels," said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. "There is very little to look back at history and compare this storm to, and so far, it remains to be seen exactly how gasoline and diesel prices will be impacted. For motorists west of the Mississippi, there may be little change in prices because of the storm, but as you head east, especially in the states to be highly impacted, there may be disruptions at various levels. However, any disruptions in supply may be offset by area-wide shutdowns of business, leading to curtailed demand for fuel. We will certainly be keeping everyone up-to-date on the GasBuddy blog throughout the storm," DeHaan said.
