Gas prices down a month after Harvey closed Gulf refineries

Gas prices down a month after Harvey closed Gulf refineries

Gas prices down a month after Harvey closed Gulf refineries

Hurricane Harvey struck refineries on the Gulf Coast, causing gas prices to surge. Elevation continued as demand spiked in the southeastern USA following Hurricane Irma. This time a year ago consumers were paying an average of $2.09 per gallon.

Kentucky gasoline prices fell 9 cents per gallon in the past week, averaging $2.40, according to GasBuddy.com's survey of the state's gas stations.

Prices are finally returning to normal after supply and demand have begun to balance out.

"Mid-Atlantic drivers will be paying less to fill up in the coming days and weeks as the situation with refineries, pipelines and gasoline deliveries improves", said Jana L. Tidwell, manager of Public and Government Affairs for AAA Mid-Atlantic.

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Lancaster area gasoline prices on September 25 in Lancaster have ranged widely over the last five years, from a low of $2.32 a gallon in 2015 to a high of $3.84 a gallon in 2012.

Gas prices are on a steady decline after Hurricanes Harvey and Irma. The price in Vermont was down 4.2 cents in the past week, to 2.67 per gallon. That's still 36 cents more than a month ago and 54 cents more than a month ago.

Gas prices are now on a steep slide after reaching three-year highs due to Hurricanes Harvey and Irma, according to AAA, The Auto Club Group. The national average for regular gas is $2.57.

A Gas Buddy analyst says, barring another hurricane, prices should continue to fall over the next few weeks. That's down from $2.37 the same day last week and $2.30 a month ago.

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