IN leads states seeing drop in gas prices last week

IN leads states seeing drop in gas prices last week”

"Circumstances beyond Canada's control, including a surging U.S dollar versus a weaker Loonie, increasing US fuel demand and growing exports, will put a premium on what Canadians will pay at the pumps in 2018", said Dan McTeague, senior petroleum analyst at GasBuddy, in the report. The price at the pump in MI dropped six cents last week, but at $2.63 is just out of the Top 10 when it comes to the most expensive gas in the country.

Prices on GasBuddy also show that most expensive regular gas in the state is going for $2.89 per gallon at a Shell station on the southwest side of Indianapolis.

Crude prices and output aren't the only influences on the gasoline market - demand and production play big parts too.

Prices at the pump remain elevated due to strong oil prices.

However, McKinley said a major factor that should moderate gasoline prices this year is increased fracking activity in North American oil fields. In the Wenatchee area, gas prices were relatively steady, holding on at $2.82 per gallon.

Gas prices in the Lima region have decreased 16.7 cents since last week, according to prices reported to

Gwinnett County prices, much like the state average, have not shown much movement.

According to the Energy Information Administration in last week's report, oil inventories tumbled by 7.4 million barrels, leaving them almost 55 million barrels under a year ago.

It says the yearly national average will rise 19 cents vs. last year, to $2.57 per gallon of unleaded regular gas.

At the close of trading Friday, West Texas Intermediate crude oil settled at $61.44 per barrel, $1.02 higher than the previous week. Gasoline inventories jumped by almost 5 million barrels while distillate inventories, made up of heating oil and diesel, gained almost 9 million barrels even amidst high demand due to cold weather.

"I would be shocked if we saw greatly increased prices in gasoline in 2018", said Skylar McKinley, spokesman for AAA Colorado in Denver.

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