In the wake of Energy Secretary Steven Chu’s announcement the federal government would release 30 million barrels of oil from the nation’s Strategic Petroleum Reserve, gasoline prices dropped nationwide and throughout the Bellaire area last week.
Average retail gasoline prices in Bellaire fell 6.9 cents per gallon to an average of $3.43 as of yesterday.
This compares with the national average that has fallen 6.5 cents last week to $3.58 per gallon, according to gasoline price website HoustonGasPrices.com.
Including the change in gas prices in Bellaire during the past week, prices yesterday were 87.2 cents per gallon higher than the same day one year ago and are 21.9 cents per gallon lower than a month ago.
The national average has decreased 21 cents per gallon during the last month and stands 84 cents per gallon higher than this day one year ago.