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Gas prices fall to lowest level since March, analyst says

Brian C. Rittmeyer
| Monday, December 16, 2019 5:27 a.m.

Gasoline prices have slid to their lowest level since March thanks to rising U.S. inventories and sluggish demand, according to an analyst for the price-tracking firm GasBuddy.

“The jump in gasoline inventories has been so large it has offset oil prices, which touched $60 per barrel last week, as well as the U.S. and China suggesting they’ve reached a trade deal,” said Patrick DeHaan, GasBuddy’s head of petroleum analysis.

In the Pittsburgh area, average gas prices fell 2.3 cents per gallon from last week to an average of $2.80 per gallon, according to GasBuddy’s survey of 731 stations. That’s 1.5 cents per gallon more than a month ago, and 16.7 cents per gallon more than a year ago.

The national average is down 3 cents per gallon to an average of $2.55 per gallon. That’s 5.5 cents per gallon less than a month ago, but 19.3 cents per gallon more than a year ago.

Neighboring areas and their current average per-gallon gas prices:

• Akron — $2.57, up 20.5 cents per gallon;

• Cleveland — $2.58, up 8.4 cents per gallon;

• West Virginia — $2.51, down 1 cent per gallon.


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