Gas prices coming down after Memorial Day surge
Gas prices are coming down after peaking before Memorial Day, according to GasBuddy.
Prices in Pittsburgh have fallen 2 cents per gallon in the past week, averaging $3.14 per gallon yesterday, according to GasBuddy's daily survey of 731 stations in Pittsburgh.
That compares with the national average that has fallen 3.1 cents per gallon to $2.91.
In the Pittsburgh area, prices yesterday were 53.1 cents per gallon higher than a year ago and are 7.3 cents per gallon higher than a month ago.
The national average has increased 4.8 cents per gallon in the last month, and is 58.5 cents per gallon higher than a year ago.
“Gasoline prices continue to fade after peaking just ahead of Memorial Day, largely in part due to previous discussion that OPEC may lift output, pushing oil prices back down to the mid-$60s,” said Patrick DeHaan, head of petroleum analysis for GasBuddy.
“As we've been expecting for months, gas prices will likely decline in the month of June as summer gasoline inventories continue to build and refiners continue to crank out fuels like gasoline and diesel,” DeHaan said. “A solid majority of states saw average gas prices decline last week, and I expect we'll hold that trajectory again this week.”