With the huge drop in oil prices over the last several months, gas prices have generally also been falling. Gasoline prices fell for 17 straight weeks from September 29 through January 26.
This week’s Energy Information Administration “Gasoline and Diesel Fuel Update” shows that this streak has come to an end. Average US gas prices ticked up from $US2.044/gal on January 26 to $US2.068 on February 2.
That still leaves prices well below the $US3.292/gal they were a year ago, even though the price crash of the last few months has at least temporarily paused: