AAA Michigan reports that the statewide average daily gas price decreased about 11 cents. And Batavia has an average price of $2.68 per gallon, which is down just one cent. That's five cents less than this day last week and 27 cents more than the price per gallon at this same time past year.
That puts average gas prices in Rockford below the national average of $2.51 a gallon.
- This is a welcome sight: gas prices are falling and are down to less than $2.50 per gallon. Crude prices have been lower in the past two weeks as investors worry that higher USA crude output, which hit a record 10.27 million barrels per day, will undermine attempts to curb global oil supplies. A couple of stations had the price of gas down to around $2.40.
"Gas prices declined as forecast, based on significant gains in both oil and gasoline production in the United States", said Mark Jenkins, spokesman at AAA in Tampa.
The seasonal maintenance forces some refineries to reduce production capacity, which typically results in less gasoline being available for consumption.
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Gas prices retreated as expected in Southwest Florida over the past week, but the cheaper fuel may not be around for long.
In Iowa, the price a month ago was $2.53, and it was $2.31 previous year.
Experts at gasbuddy.com say it's a positive trend that may continue as prices continue to catch up the decline in crude oil prices.
With oil prices beginning to rally again, it's more likely that gasoline prices may soon reverse course as retail prices have largely caught up to last week's lowest wholesale prices. Local prices remain at a four-year high for this time of year.