Gas prices expected to go on a "diet"

FORT WAYNE, Ind. (WANE) Average retail gasoline prices in Fort Wayne have fallen 11.7 cents per gallon in the past week, averaging $3.87 a gallon on Monday, September 3, 2012. This compares with the national average that has increased 1.4 cents per gallon in the last week to $3.80 a gallon according to gasoline price website FtWayneGasPrices.com. 

 

Including the change in gas prices in Fort Wayne during the past week, prices Monday were 15.1 cents per gallon higher than the same day one year ago and are 6.5 cents per gallon lower than a month ago. The national average has increased 20.3 cents per gallon during the last month and stands 12.9 cents per gallon higher than this day one year ago. 

 

"With the conclusion of the summer driving season, we can expect gasoline prices to go on a diet," said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. "Like all diet programs, you may not see immediate loss in the short term, but we'll likely see some loss in the longer term, say the next several weeks, as factors align in motorists favor- specifically as Isaac has exited without much ado, demand to see seasonal decline, and with cheaper to produce winter-spec higher RVP gasoline coming, there's light at the end of the tunnel," DeHaan said.