Falling gas prices expected to end in February, analyst says
Despite rallying oil prices and a “brief hiccup” that saw the nation’s average gas price rise for two days last week, the overall trend remains in favor of lower gas prices, said Patrick DeHaan, head of petroleum analysis for GasBuddy.
“The window for cheap gas prices continues to close, however, and by mid-February will likely be completely closed — so do take advantage of the low prices while they last,” DeHaan said.
In Pittsburgh, gas prices fell 4.4 cents per gallon in the past week to an average of $2.46, according to GasBuddy’s survey of 731 stations. That’s 24.8 cents a gallon lower from a month ago, and 30.8 cents a gallon less than a year ago.
The national average is down 3 cents a gallon to $2.22. It’s down 19.9 cents a gallon during the last month and stands 26 cents a gallon lower than a year ago.
“While 11 states are seeing their statewide average under $2 per gallon, nearly half of the nation’s gas stations are selling under $2 per gallon,” DeHaan said. “In fact, while the average price remains higher, the median gas price in the U.S. sits at $2.07 per gallon — much of which can be blamed on much higher gas prices on the West Coast — where more relief in the form of lower prices can be expected.”
Brian Rittmeyer is a Tribune-Review staff writer. You can contact Brian at 724-226-4701, [email protected] or via Twitter @BCRittmeyer.
Brian C. Rittmeyer is a Tribune-Review staff writer. You can contact Brian at 724-226-4701, [email protected] or via Twitter .