Average retail gasoline prices in Utah have fallen 8.1 cents per gallon in the past week, averaging $2.21/g Sunday, according to GasBuddy’s daily survey of 1,171 gas outlets in Utah. This compares with the national average that has fallen 5.0 cents per gallon in the last week to $2.16/g, according to gasoline price website GasBuddy.com.
Including the change in gas prices in Utah during the past week, prices Sunday were 84.5 cents per gallon lower than the same day one year ago and are 30.9 cents per gallon lower than a month ago. The national average has decreased 11.4 cents per gallon during the last month and stands 72.1 cents per gallon lower than this day one year ago.
Terrorism not a major factor
“Terrorism and other geopolitical events always have the potential to bring havoc to Wall Street but early signs suggest that financial market reactions are subdued,” said Gregg Laskoski, GasBuddy’s senior petroleum analyst for the Northeast.
“That means Friday’s events are not likely to be what drives the direction of crude oil and market fundamentals can be expected to push retail gasoline prices lower in the U.S. We’re already seeing that as the national average today is 6 cents lower from a week ago and wholesale prices are also significantly lower,” he added.