Gas prices in area remain stable but should take seasonal slide

"After taking into consideration all of the above, GasBuddy analysts constructed this forecast for the Canadian average price of gasoline, month-by-month, for 2018".

The average in South Bend is $2.59 a gallon, a $00.23 jump from past year.

The Detroit-area's average decreased about 3 cents to $2.64 per gallon. Average U.S. gasoline demand fell 8.8 percent last week in the first decline since November, government data show. GasBuddy reports demand for gasoline products, fueled by a strong economy and exports, continues to set records. "Most people complain about high gas prices, but everyone is empowered by these tools and others to spend less".

High compliance with the pact, which was implemented at the start of 2017 and runs through 2018, contributed to last year's price rally for crude oil, oil stocks, and related mutual and exchange-traded funds. By AAA's account, there were no major supply issues, though the regional market is running a 7 billion barrel deficit for gasoline supplies when compared with previous year.

In Florida, the most expensive average gas price was $2.57 in the West Palm Beach-Boca Raton area. That's when gas stations drop prices to gain business, but as retail prices approach wholesale prices, stations need to push the price back up to make money.

"The recent agreement by OPEC, Russia and non-OPEC oil producing countries to extend crude output curbs for all of 2018 appears to provide assurance that oil's 2017 price rebound wasn't a fluke", he said. CT lawmakers and Gov. Dannel P. Malloy are taking heat from motorists for considering a plan that raises the state's gasoline tax by three cents when prices at the pumps are creeping toward $5 a gallon. Great Lakes states will likely see prices jump due to a regional price behavior called price cycling, while price trends may change little as we approach a short-term peak at the pump.

GasBuddy is projecting the national average gas price this Christmas to be $2.39 per gallon, a 12-cent drop since Thanksgiving, but the priciest Christmas in four years.

Vanessa Coleman

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