Gas prices continue recovery from Harvey and Irma

Lucy Hill
October 25, 2017

This time a year ago, the average in Naples was $2.29 per gallon, 21 cents lower than on Monday. In Mississippi, the statewide average peaked at $2.49 about two weeks after the hurricane and have been declining since, Redman said.

"As of (Monday), the state-wide average in MS is $2.21 a gallon", Redman said.

DeHaan attributed the price disparity to Pennsylvania having the nation's highest gas tax at 58.2 cents a gallon. For instance, the average price in Miami is $2.59 a gallon and $2.38 in Jacksonville. In nearby San Bernardino and Riverside, prices dropped to $2.94 per gallon and $2.97 per gallon respectively.

Gas prices in Lancaster County have been extremely volatile over the past decade. “Reduced demand and the conversion to cheaper-to- produce winter-blend fuel are starting to apply downward pressure on pump prices throughout the state.

Jenkins said oil prices may be 5 to 10 cents too high based on crude oil prices.

“According to the Energy Information Administration, domestic crude oil exports have increased to 1.8 million barrels per day, ” Conde said.

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"In fact, the national average may continue to decline for a few weeks before leveling off as gasoline inventories continue to heal after Harvey", DeHaan said.

“On September 14, pump prices in Idaho peaked for the year at $2.78 per gallon, and some of the highest prices were paid in the Boise Metro area, ” said Matthew Conde, AAA Idaho spokesman, in a press release.

"Perhaps even more wild is that the national average has now remained under $3 for almost three years, or 1, 087 days as the days of cheap oil have continued", DeHaan said in a news release.

"Perhaps even more wild is that the national average has now remained under $3 per gallon for almost three years, or 1,087 days as the days of cheap oil have continued", said Patrick DeHaan, head of petroleum analysis for GasBuddy.

Other reports by TheDailyFarc

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