Average retail gasoline prices in the Rio Grande Valley have fallen 3.1 cents per gallon in the past week, averaging $3.37 per gallon yesterday. This compares with the national average that has fallen 5.9 cents per gallon in the last week to $3.46/g, according to gasoline price website RioGrandeValleyGasPrices.com.
Including the change in gas prices in Rio Grande Valley during the past week, prices yesterday were 83.4 cents per gallon higher than the same day one year ago and are 9.9 cents per gallon lower than a month ago. The national average has decreased 20.3 cents per gallon during the last month and stands 73.3 cents per gallon higher than this day one year ago.
"Motorists are certainly delighted that average gasoline prices are at their lowest since early March, but compared to prices a year ago, motorists are still feeling a pinch at the pump," said Patrick DeHaan, GasBuddy.com Senior Petroleum Analyst. "It's great to see gasoline prices falling, but at the same time, prices a year ago were nearly 75 cents less per gallon. The good news is that over the upcoming weeks, there will continue to be factors that could put more downward pressure on oil and gasoline prices. I continue to expect that average gasoline prices will bounce between $3.25-$3.50 for much of the rest of 2011," DeHaan adds.