Average retail gasoline prices in the Bellaire area have again dropped over the past week, this time falling 1.2 cents per gallon.
Today’s average price or regular unleaded in the Bellaire area is now $2.43 per gallon.
Bellaire’s gas prices continue to compare favorably with the national average, which dropped fell 0.2 cents per gallon in the last week to $2.68 per gallon, according to gasoline price website HoustonGasPrices.com.
Including the change in gas prices during the past week, prices in Bellaire yesterday were 10.8 cents per gallon higher than the same day one year ago and 14.1 cents per gallon lower than a month ago.
The national average has decreased 9.3 cents per gallon during the last month and stands 11.4 cents per gallon higher than this day one year ago.
“With gasoline supply closing the summer driving season out at the highest levels since records began in 1990, there will be significant pressure for prices to fall, especially if hurricane season doesn’t make a large impact on high supply numbers,” said Patrick DeHaan, GasBuddy.com Senior Petroleum Analyst. “Combine those high supply numbers with typically weak autumn gasoline demand numbers, and fundamentals easily merit lower gasoline prices than we’re currently seeing.”
DeHaan predicted average prices across the U.S. could fall as much as 10-20 cents per gallon in the next four to eight weeks as refiners move out cheaper winter gasoline. He said that while hurricane season is something that could temporarily impact gasoline prices, any impact would be very short-lived given the high supply and weak demand of gasoline.