Including the change in gas prices in Utah during the past week, prices yesterday were 31.6 cents per gallon higher than the same day one year ago and are 1.7 cents per gallon lower than a month ago. The national average has increased 14.0 cents per gallon during the last month and stands 15.0 cents per gallon higher than this day one year ago.
"After an impressive run that saw the national average begin to approach its springtime high, it appears prices have plateaued- at least for now," said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. "Oil prices appear to be taking a breather, but with the peak of hurricane season approaching, an continued upward trajectory in gasoline prices is certainly possible, should we see a major storm take aim for the Gulf. Crude inventories have also declined four consecutive weeks, and large decreases in crude inventories in the near future may be cause for rising oil prices as well," DeHaan said.