Gasoline Prices Up
May 18- Average retail gasoline prices in Wyoming have risen 6.6 cents per gallon in the past week, averaging $2.57/g yesterday, according to GasBuddy's daily survey of 494 gas outlets in Wyoming. This compares with the national average that has increased 5.0 cents per gallon in the last week to $2.71/g, says gasoline price website GasBuddy.com.
Including the change in gas prices in Wyoming during the past week, prices yesterday were 90.6 cents per gallon lower than the same day one year ago and are 27.4 cents per gallon higher than a month ago. The national average has increased 26.9 cents per gallon during the last month and stands 94.0 cents per gallon lower than this day one year ago.
"The rise we've seen in the national average over the month is showing signs of fading," said Patrick DeHaan, GasBuddy senior petroleum analyst. "Crude oil prices have fallen from their 2015 highs and currently stand some $2/bbl lower at $59/barrel. While higher demand is expected for this Memorial Day weekend, crude oil inventories remain plentiful and stand some 86 million barrels higher than a year ago. That reminder could inspire some selling in crude oil, as could bearish comments recently made by OPEC, or data showing that the 24-week decline in oil rigs is greatly slowing down."
Monthly comparisons show all fifty states seeing higher prices than they stood four weeks ago, with the largest jumps taking place in Ohio, Michigan and California, where prices moved up by at least ten cents a gallon.
Meanwhile, all fifty states still stand lower today than a year ago, with the biggest drops in Michigan, Indiana and Kentucky, where prices stand over $1.12/gallon lower. Meanwhile, the smallest drops versus a year ago can be found in California, Nevada and Utah, where prices are 33, 49 and 62 cents lower, respectively, than last year.