Gas prices fall slightly after huge spike - – Rockford’s News Leader

Gas prices fall slightly after huge spike


After a dramatic spike in prices last week, gas prices have fallen slightly in the Rockford area.

Prices are down 2.7 cents per gallon, averaging $3.93 per gallon on Sunday. The national average, however, has risen 5.4 cents to $3.67 per gallon.

Prices on Sunday were 27.5 cents per gallon higher than they were one year ago and 44.9 cents higher than one month ago. The national average is just 5.7 cents higher than one year ago and 24.8 cents higher than one month ago.

"The national average has spiked 25-cents per gallon just in the last month, thanks to an onslaught of refinery problems—mainly in the Great Lakes and California," Senior Petroleum Analyst Patrick DeHaan said. "While these situations are temporary in nature, it goes to show this nations dependence on domestic refineries. While oil prices have gained in recent days, there is some light at the end of the tunnel for motorists: driving season will be over in less than a month and soon thereafter the EPA also relaxes gasoline mandates, meaning cheaper winter fuel."

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