Published: Tue, September 19, 2017
World Media | By Shelia Harmon

Gas prices drop as weather cools in Las Vegas

Gas prices drop as weather cools in Las Vegas

The statewide average in IL now sits at $2.47 per gallon, according to a survey of over 4,300 gas stations in the state.

With two major hurricanes now in the nation's rear-view mirror, gas prices are starting to slowly come down.

From Aug. 29 to September 5, Pittsburgh-area pump prices increased 24 cents - the largest weekly spike in the region recorded since GasBuddy began keeping detailed data in 2007.

According to the U.S. Department of Energy, a total of six Gulf Coast refineries are operating at reduced rates.

The Southeast was hit particularly hard in the price spike.

But New York, where the average price of gasoline is $2.81 per gallon, still has some of the highest prices in the country. The price of a gallon of regular is now down a penny nationwide, according to a AAA report last week. Gasoline prices will continue to fall even as oil holds steady due to better supply and demand balance after Harvey. 17, it had dipped to $2.71 per gallon. As refineries recovered, gas prices should have begun to decline after Labor Day, but the arrival of hurricane Irma caused a surge in demand, preventing the impending plunge. During the same time in 2014, oil was (and usually is) the main driver of pump prices, as crude traded between $65-$75 per barrel.

That one-month uptick locally was higher than the national increase of 27.9 cents, which GasBuddy attributed to mid-Atlantic refineries diverting some of their output to hurricane-ravaged markets. "It will not happen overnight, as pump prices decline much slower than they rise".

The most expensive gas price averages in Florida are in West Palm Beach-Boca Raton ($2.80), Miami ($2.77), and Fort Lauderdale ($2.74). Not a threat to make landfall, Hurricane Jose, a Category 1, is well off the shore of North Carolina. Previous year at this time, gas was $2.24 per gallon in IL. A year ago, the average was $2.157.

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