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Gas prices dip on average over past week in Nebraska

Average retail gasoline prices in Nebraska have fallen 4.5 cents per gallon in the past week, averaging $2.45 per gallon on Sunday, according to GasBuddy’s daily survey of 1,150 gas outlets in Nebraska.

This compares with the national average that has fallen 5.4 cents per gallon in the last week to $2.26 per gallon, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Nebraska during the past week, prices Sunday were 58.7 cents per gallon lower than the same day one year ago and are 5.4 cents per gallon higher than a month ago. The national average has decreased 3.7 cents per gallon during the last month and stands 84.5 cents per gallon lower than this day one year ago.

“Falling gasoline prices have been the name of the game after a brief hiatus,” said Patrick DeHaan, senior petroleum analyst for GasBuddy.com. “During the last week, 49 of the nation’s 50 states saw gasoline prices falling an average of six cents a gallon, while the Midwest – previously hit with price spikes – saw among the biggest declines as some refiners returned from maintenance, easing supply concerns. Oil prices also took a break after seeing the largest weekly increase since 2009 to post a big decrease last week.”

“At last week’s close, a barrel of West Texas Intermediate crude was seen trading around $46 per barrel, which certainly helped gasoline prices fall,” DeHaan added. “The gasoline price environment remains vastly improved versus a year ago: just 13.4 percent of nation’s gas stations are selling at over $2.50 per gallon today, while a year ago, 100 percent of stations were over that mark.

“Nearly a quarter of the nation’s gasoline stations are currently selling under $2 per gallon, and that number will likely grow in the months ahead as refiners continue to finish maintenance and resume producing gasoline at a time when demand is low, contributing downward pressure to gasoline prices.”

 

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