Gas prices poised for a steep drop | Business News

Gas prices poised for a steep drop

11 Aug 2015 | Author: | No comments yet »

Gas Prices Should Continue Falling, Experts Say.

The average retail price of gas in the area fell 8.4 cents over the past week to $3.25 a gallon, according to gas price tracker GasBuddy.com’s latest report on Monday. The changes mean drivers in the Pittsburgh region are paying 88.2 cents less a gallon than they did a year ago at this time and 16.7 cents less than a month ago. In areas like Rochester, some stations are selling gas for $2.06 a gallon. “It’s all about the distribution, where they get their fuel from, which refineries, which pipelines or oil tankers and those sorts of things,” said Gail Weinholzer of AAA. “It’s all about the distribution, where they’re getting it from.

He said refineries have churned out more than 17 million barrels per day in each of the past four weeks, a production level not seen since the Energy Information Administration started publishing the data in 1990.

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