Gas Prices Continue Downward Trend

By Ian Hoover- 21Alive

Gas Prices Continue Downward Trend

August 18, 2014 Updated Aug 18, 2014 at 7:40 AM EST

FORT WAYNE, Ind. (21Alive) -- Retail gasoline prices have fallen 13 cents int the past week and signs point to that downward trend continuing, according to GasBuddy.

GasBuddy reports that the average price of gasoline in Fort Wayne is nearly 10 cents cheaper than the national average and that prices on Sunday were 14.6 cents cheaper than they were a year ago. Gas prices are also nearly 10 cents cheaper than a month ago. With the summer driving season coming to an end, GasBuddy says we can expect gas prices to keep going down.

"Oil prices last week dropped to $95/bbl briefly before rising the next day back to $97/bbl, but the important factor is that prices remain under triple digits. For motorists, we're nearing the point that gasoline demand drops- after Labor Day- and also the upcoming switch back to cheaper winter gasoline will also put downward pressure on prices in mid-September," says GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. " While a short term increase in gasoline prices is never out of the question, as we grow nearer to September, the likelihood of a spike decreases. It won't be long before we'll start to see a few cities seeing averages under $3/gal: areas of Tennessee and South Carolina are already getting close," DeHaan said.

For the most up-to-date gas prices, you can go to our handy gas prices page here




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