Gas prices drift lower, but Iran tensions could cause impacts, analyst says |

Gas prices drift lower, but Iran tensions could cause impacts, analyst says

Brian C. Rittmeyer

Gas prices have come down slightly in Pittsburgh, with a bigger decrease nationally.

In Pittsburgh, prices are down 0.9 cents per gallon in the past week, averaging $2.97, according to GasBuddy. That’s 7.5 cents per gallon higher than a month ago, but 11.2 cents per gallon lower than a year ago.

The national average price is down 3.5 cents per gallon to $2.76. That’s 10.9 cents per gallon more than a month ago, but 6.7 cents per gallon less than a year ago.

Average U.S. gas prices drifted lower as oil’s downturn picked up steam thanks to a smaller than expected decline in oil inventories and concerns remaining over the strength of the U.S. economy, said Patrick DeHaan, head of petroleum analysis for GasBuddy.

“Oil largely ignored Iran’s attempt to make waves in the Strait of Hormuz last Friday but we may see some impacts in the week ahead, though over the weekend some behind the scenes signs emerged that some parties were trying to de-escalate the rising tensions,” DeHaan said.

“Motorists will likely face a mixed bag at the pump in the week ahead,” he said. “Gas prices are likely to drift lower for the first part of the week, with the exception of Great Lakes states, but may perk up closer to the weekend or early next week should oil prices exhibit strength that pushes them close to $60 per barrel.”

Brian C. Rittmeyer is a Tribune-Review staff writer. You can contact Brian at 724-226-4701, [email protected] or via Twitter .

Categories: Local | Regional
TribLIVE commenting policy

You are solely responsible for your comments and by using you agree to our Terms of Service.

We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.

While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.

We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers

We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.

We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.

We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.

We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.