Gas prices down a month after Harvey closed Gulf refineries

Fuel prices maintain slow decline

"Gasoline inventories are continuing to recover after hurricanes Harvey and Irma, and that's helping to put downward pressure on gas prices". However, compared to this time past year, Florida drivers are paying 52 cents more for a gallon of gasoline.

Texas, TX, September 25- Average retail gasoline prices in Texas have fallen 2.8 cents per gallon in the past week, averaging $2.44/g yesterday, according to GasBuddy's daily survey of 13,114 gas outlets in Texas. As refineries shut by storm damage work to reach pre-storm capacity levels, oil inventories may decline in the coming weeks as refineries turn to storage tanks to meet demand needs.

An emailed market report from GasBuddy.com, however, said the price drop was so intense that the Great Lakes market may be primed for a "reset" over the next few days.

The average cost for gas in NY was $2.45 cents before the hurricanes hit.

"The continued decline at gas pumps will bring the national average down another 5-10 cents in the week ahead". That's down from $2.37 the same day last week and $2.30 a month ago. The 25 cents-per-gallon spike experienced in the first week of this month represented the largest single-week gas price increase in the US since Hurricane Katrina ravaged the Gulf Coast in 2005.

Motorists are seeing signs of falling costs, with Monday marking the 11th straight day prices have declined in Florida, and that drop is expected to soon pick up pace.

Hawaii and Washington are seeing slightly lower gas prices this week and are the only states besides California where the average price has eclipsed the $3 per gallon mark.

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