Average retail gasoline prices in Bellaire have fallen another 1.9 cents in the past week, averaging $3.07 per gallon as of yesterday.
The local price compares with a national average that has fallen 2.6 cents per gallon in the last week to $3.29, according to gasoline price website HoustonGasPrices.com.
Despite the declines in recent weeks, petroleum analyst Patrick DeHaan still expects gas prices to climb later in the year or early in 2012.
“Even as oil and gasoline futures rallied after strong Black Friday sales reports and a drop in unemployment, retail gasoline prices have mover lower,” DeHaan said. “I have a suspicion that as we near 2012, we may see retail prices climb slightly higher again on upbeat holiday spending, which is indicative of a healthier economy. If we remember back to last year, positive holiday sales also led to higher gasoline prices as Christmas approached, which may play out again this year.”
Including the change in gas prices in Bellaire during the past week, prices yesterday were 32.4 cents per gallon higher than the same day one year ago and 11.3 cents per gallon lower than a month ago.
The national average has decreased 13.9 cents per gallon during the last month and stands 35.5 cents per gallon higher than this day one year ago.