Gas prices continue to fall

Average retail gasoline prices in Nebraska have fallen 5.4 cents per gallon in the past week, averaging $2.34 per Sunday, according to GasBuddy’s daily survey of 1,150 gas outlets in Nebraska. This compares with the national average that has fallen 1.1 cents per gallon in the last week to $2.18 per gallon, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Nebraska during the past week, prices yesterday were 78.0 cents per gallon lower than the same day one year ago and are 0.8 cents per gallon higher than a month ago. The national average has decreased 10.9 cents per gallon during the last month and stands 79.0 cents per gallon lower than this day one year ago.

“The gas price slide across much of the nation has continued for the third straight week,” said Will Speer, GasBuddy’s senior petroleum analyst for the Midcontinent and Southwest. “Planned fall refinery maintenance had put the Midwest in the spotlight as the region hardest hit with refinery rate reductions, but as we reach November, refinery maintenance projects are beginning to wrap up as evident in EIA’s weekly report, which saw refinery utilization rates improve.  Improving refinery rates paired with WTI-crude trading steadily around the $46/barrel range will keep downward pressure on gas prices through November,” Speer said.