Gas prices fall slightly, still higher than last month

Gas prices fall slightly, still higher than last month
According to GasBuddy, the average price of fuel at the pump fell 2.7 cents from the last week. (Source: WXIX TV)

(KFVS) - GasBuddy released its weekly fuel prices trend for regular unleaded gas in the U.S.

As of Monday morning, March 29, the nationwide national average was $2.84 per gallon, which is up 12.9 cents at this time last month and 87.5 cents from a year ago.

The average price of fuel at the pump fell 2.7 cents from the last week.

The following chart shows average fuel prices per gallon in Missouri, Illinois, Kentucky and Tennessee:

State Average price 3/29 Last week’s average Last month’s average Price average last year
Illinois $3.031/gallon $3.046 (up 0.7 cents) $2.840 (up 19.0 cents) $1.935 (up 109.5 cents)
Kentucky $2.685/gallon $2.699 (down 1.4 cents) $2.535 (up 15.0 cents) $1.663 (up 102.2 cents)
Missouri $2.662/gallon $2.674 (down 1.2 cents) $2.471 (up 19.1 cents) $1.724 (up 93.8 cents)
Tennessee $2.653/gallon $2.656 (steady -0.3 cents) $2.469 (up 18.4 cents) $1.731 (up 92.2 cents)

A petroleum analyst for GasBuddy said oil prices have moderated for the time being, but the backlog of ships in the Suez Canal caused by a ship blocking transportation, refiners switching to summer gasoline and higher demand could cause prices to increase.

“Last week saw total gasoline demand at yet another pandemic high according to GasBuddy data,” said head of petroleum analysis for GasBuddy Patrick De Haan. As we approach warmer weather and motorists are increasingly getting outside, it could drive prices higher, so long as COVID-19 cases don’t jump along with it and lead to new travel restrictions.”

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