Gas prices continue to fall statewide

Average retail gasoline prices in Nebraska have fallen 0.9 cents per gallon in the past week, averaging $3.01 per gallon Sunday, according to GasBuddy’s daily survey of 1,150 gas outlets in Nebraska. This compares with the national average that has fallen 1.7 cents per gallon in the last week to $2.89 per gallon, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Nebraska during the past week, prices on Sunday were 7.5 cents per gallon lower than the same day one year ago and are 10 cents per gallon lower than a month ago. The national average has decreased 25.5 cents per gallon during the last month and stands 29.8 cents per gallon lower than this day one year ago.

“Just a week ago, I was becoming concerned that the national average would level off unless crude oil prices kept dropping, and that’s exactly what happened,” said Patrick DeHaan, senior petroleum analyst with GasBuddy.

“Suddenly, the market turned bearish again and crude dropped as low as $74/bbl before closing the week out at a $2/bbl loss,” he added. “Either way, the decline in crude price renews the downturn at the pump that had stabilized last week and helped the national average tip back into a downward decline. In most places across the country we should see the downward trend continue or re-emerge this week.”