Gas prices fall in Detroit, across nation

Gas prices are declining again.

“At last week’s close, a barrel of West Texas Intermediate crude was seen trading around $46/bbl, which certainly helped gasoline prices fall”.

October 19- Average retail gasoline prices in Hawaii have risen 1.1 cents per gallon in the past week, averaging $2.88/g yesterday, according to GasBuddy’s daily survey of 355 gas outlets in Hawaii.

The cost of fueling up your ride has been slowly decreasing in recent days.

The price of oil settled at $47.26 a barrel on the NYMEX last Friday – 88 cents higher than Thursday, but $2.37 lower than the closing price a week before.

It could get even better.

“Falling gasoline prices have been the name of the game after a brief hiatus”, said Patrick DeHaan, senior petroleum analyst for GasBuddy.com.

“We’re experiencing relatively small gas price drops right now because of the still-volatile situation with Southern California supply”, said Auto Club spokesman Jeffrey Spring. The region, however, is approaching the one-year mark of when gasoline prices began a historic free fall.

DeHaan says almost a quarter of the nation’s gas stations are selling for under $2 per gallon, and the number of stations will grow over the next few weeks.

“Low gasoline prices shouldn’t be going anywhere anytime soon”, Jenkins said.

On the other hand, it could be worse.