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Gas prices starting to fall

POSTED September 24, 2012 4:23 p.m.

Despite wide fluctuations in crude oil prices, average retail gasoline prices in Kansas have fallen 2.5 cents per gallon in the past week, averaging $3.80 Sunday. This compares with the national average that has fallen 4.3 cents per gallon in the last week to $3.80, according to gasoline price website KansasGasPrices.com.
The state low was reported in Topeka at $3.66. The high was $4.14 just off of Interstate 70 at Ellsworth.
In Great Bend, prices ranged from $3.73 to $3.79. Elsewhere in the Golden Belt, prices were $3.73-3.83 in Larned and $3.69 at Pratt.
Including the change in gas prices in Kansas during the past week, prices Sunday were 43.4 cents per gallon higher than the same day one year ago and are 15.5 cents per gallon higher than a month ago. The national average has increased 8.8 cents per gallon during the last month and stands 29.0 cents per gallon higher than this day one year ago.
“The national average has begun to drop nicely over the last week, and while it certainly doesn’t feel like much, it is noteworthy,” said GasBuddy.com senior petroleum analyst Patrick DeHaan. “Oil prices were all over the map last week, closing in on $100 per barrel one day and dropping to $92 later in the week.
He said he’s had more double takes watching oil prices in the last week than he’s had all summer.
“We’ve been at record highs here,” said Jim Hanni, AAA spokesman for the organization’s Kansas region. “But prices have begun to decrease.”
With the end of the summer driving season, suppliers are switching to the “winter blend” gasoline which is cheaper. Also,  crude prices have dropped as distribution has been restored following the hurricane season and other supply disruptions.
“Historically, prices fall from September through Christmas,” Hanni said. This has held true for seven of the last nine years.


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