Gas prices fall over the past week

Average retail gasoline prices in Nebraska have fallen two cents per gallon in the past week, averaging $2.05 per gallon yesterday, according to GasBuddy’s daily survey of 1,150 gas outlets in Nebraska. This compares with the national average that has not moved in the last week to $2.03 per gallon, according to gasoline price website GasBuddy.com.

Areas nearby Nebraska and their current gas price climate:

Lincoln - $2.20 per gallon, down 3.8 cents per gallon from last week’s $2.24 per gallon.

South Dakota - $2.03 per gallon, down 2.2 cents per gallon from last week’s $2.05 per gallon.

Omaha - $2.04 per gallon, down 0.9 cents per gallon from last week’s $2.05 per gallon.

Including the change in gas prices in Nebraska during the past week, prices yesterday were 60.1 cents per gallon lower than the same day one year ago and are 25.8 cents per gallon lower than a month ago. The national average has decreased 18.5 cents per gallon during the last month and stands 63.2 cents per gallon lower than this day one year ago.

“The next 24 hours will likely see the national average drop to a new six-plus year low. The U.S. average needs to fall just seven-tenths of a penny from its current $2.032 per gallon (to $2.025 per gallon.) to be the lowest since March 25, 2009,” said Patrick DeHaan, GasBuddy senior petroleum analyst. “As for the outcome of OPEC’s meeting late last week: OPEC is going to wait for production to resume from Iran before looking at oil production quotas again next year. While we wait and see what that next meeting might bring, high oil production will likely continue to boost already record high oil inventories, keeping gasoline prices somewhat subdued. The national average has once again resumed falling after Turkey’s downing of a Russian fighter jet caused a brief hiatus, but with prices moving lower, a $1.99 national average gasoline price could be something we witness this week,” he added.

For a complete listing of current averages and other fuel price data, visit http://media.gasbuddy.com. For fuel news and alerts, follow @GasBuddyNews on Twitter.

GasBuddy is the premiere source for real-time local gas prices. Founded in 2000, GasBuddy.com developed as an initiative to provide consumers access to local, current gas prices. Through the GasBuddy.com website and the free GasBuddy mobile app, users can find and share gas prices with fellow drivers, saving big money at the pump.