Gas prices expected to continue to drop

FORT WAYNE, Ind. (WANE) Average retail gasoline prices in Fort Wayne have fallen 19.5 cents per gallon in the past week, averaging $3.48 a gallon on Sunday, June 3, 2012. This compares with the national average that has fallen 4.5 cents per gallon in the last week to $3.61 a gallon according to gasoline price website FtWayneGasPrices.com.

Including the change in gas prices in Fort Wayne during the past week, prices yesterday were 58.6 cents per gallon lower than the same day one year ago and are 49.2 cents per gallon lower than a month ago. The national average has decreased 18.2 cents per gallon during the last month and stands 16.2 cents per gallon lower than this day one year ago.

"An impressive decline in average gasoline prices will now be extended as the West Coast begins to see lower prices in the days ahead," said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. "With significant downward pressure on oil prices last week, motorists will continue to see prices sliding east of the Rockies, and even the West Coast will start to get in on the action, thanks to a supply situation that appears to be turning around. Also pushing down oil prices last week was a frightening jobs report, as well as continued concerns about European debt problems," DeHaan said.