Those that lowered prices further probably took a bit of a loss, said Patrick DeHaan, a GasBuddy senior petroleum analyst.
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“The bias in pricing for the coming week will definitely be towards the downside”, he said. “Once those issues get cleared up in a week or two, prices will resume the direction of the national average”.
Roseville, CA- Roseville gas prices remained mostly flat this past week with prices hovering above $3 gallon at a few locations.
Besides the 463 million barrels of oil in storage, refineries are running at 95.5 percent efficiency processing that crude in to gasoline and diesel fuel.
The average per-gallon price of regular gas in Nashville on Sunday was $2.50, down three cents compared to the mark of a week ago and down eight cents from the figure of four weeks prior.
Gas prices fell 4.4 cents per gallon last week in the Pittsburgh area, according to a gas tracking website. The peak price in Georgia was $2.72 on June 15.
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AAA said that high inventories of crude and a strong dollar should keep oil and gas prices dropping. The national average has decreased 5.2 cents per gallon during the last month and stands 79.1 cents per gallon lower than this day a year ago.
