The Reframe | What to know about gas prices declining 9.5 cents last week
Gas prices continue to fluctuate but were down last week in the Omaha area and across Iowa.
Gas prices continue to fluctuate but have fallen 9.5 cents per gallon in the last week, on average, in the metropolitan area and across Iowa.
What is happening? Gas prices fell an average of 9.5 cents per gallon over the past week in both the Omaha metropolitan area and across Iowa, according to GasBuddy. Prices are now averaging $3.79 per gallon in the Omaha area and $3.75 statewide.
Statewide, the average price is 9.5 cents higher than a month ago and $1.17 higher than a year ago.
Gas prices have been fluctuating, with weekly averages dropping in both Omaha and Iowa.
AAA Travel's national average price for regular unleaded gasoline is $3.83 per gallon, down 1.6 cents from last week, while the national average for premium is $4.34 per gallon.
GasBuddy petroleum analysis of America's gasoline markets recently noted the "collapse" of the $4 per gallon mark across the country, with prices falling to $3.79 in Omaha and $3.75 in Iowa.
"While prices are still 9.5 cents higher than a month ago, and $1.17 higher than a year ago, the trend is downward," said GasBuddy senior petroleum analyst Patrick De Haan.
De Haan said "for now, the gas, but also the trend of falling prices is likely to continue for the rest of the week." He added that "the EIA's latest inventory data shows that the U.S. has 433 million barrels of crude oil, its highest level since 2016, according to EIA as reported in the latest EIA data."
De Haan said "for now, the gas, but also the trend of falling prices is likely to continue for the rest of the week." He added that "the EIA's latest inventory data shows that the U.S. has 433 million barrels of crude oil, its highest level since 2016, according to EIA as reported in the latest EIA data."
This article was prepared with the help of AI technology using information collected and verified by Nonpareil journalists.
