Gas prices have fallen 40 cents in the last three weeks

28 November, 2017, 01:21 | Author: Gladys Mathis
  • Colorado Springs could see a rise in gas prices

Amid the heavy travel over the past week, gas prices in the Rockford region went down. That's three cents below the national average of $2.51.

AAA Northeast said Monday in its weekly survey that self-serve, regular unleaded is averaging $2.60 per gallon.

This is the second week in a row MI has seen a double-digit price drop, after an 11-cent decrease in the week preceding Thanksgiving.

Motorists looking to fill up before prices go up could still find numerous places selling for less than $2.40 a gallon, according to the price-comparison website GasBuddy.com.

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"Despite a forecasted 5 to 20 cents decrease in coming weeks, motorists will see higher than expected December gas prices - especially compared to year-end prices from 2015 and 2016", AAA spokesperson Jeanette Casselano said in a statement.

Look for gas prices to dip lower through the end of 2017.

AAA found self-serve, regular gasoline selling for as low as $2.33 per gallon and as high as $2.65 in MA. This year, the typical factors that drive gas prices down in winter were outweighed by the impact of two major hurricanes, steady consumer demand and continued growth in gasoline exports.

Meanwhile, oil production in the USA reached 9.7 million b/d last week, according to EIA's latest report, a high not seen since April 1971. The state had the third-argest average price change in the US this past week, the release said. Demand has remained stronger than expected for the early part of fall, so an increasing utilization rate will close the supply gap and help keep stocks in check as winter draws closer, says AAA.

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