Gas prices continue the downward trend

With the trend continuing of gas prices falling since the end of the summer in 2014, many people’s pockets are getting a break. As the new year begins people also wonder whether that trend will continue and if so, for how long.

As of Jan. 5, the average retail gasoline prices in Alabama have fallen 9.2 cents per gallon just in the past week, averaging $2.07 per gallon on Jan. 4, according to the daily survey of 3,348 gas outlets in Alabama done by GasBuddy.com. And Alabama is not the only place continuing to see this trend as the national average has fallen 7.7 cents per gallon in the last week to $2.19 per gallon, according to the gasoline price website.
Including the change in gas prices in Alabama during the past week, prices yesterday were 106 cents per gallon lower than the same day one year ago and are 48 cents per gallon lower than a month ago. That is a substantial drop for the month when looking at statistics over the last decade and the national average has decreased 52.8 cents per gallon during the last month and stands 112.7 cents per gallon lower than this day one year ago.
Patrick DeHaan, senior petroleum analyst with GasBuddy said, “2015 will be a far better year at the pump than what we saw in 2014, and motorists will fare substantially better.” DeHaan said he sees Americans shelling out $96 billion less this year at the gas pump with motorists in most states seeing far more $2 gas than $3 gas.
But while gasoline consumers are enjoying the dive in prices, those who use and purchase diesel are arriving to the party slowly. Diesel prices declined an average 44 cents per gallon in the last month.

DeHaan said he sees diesel prices declining another 35-50 cents a gallon nationally over the next month or so.