Gas Prices Retreat From Hurricane Highs

Fuel prices maintain slow decline

According to AAA, the current average price for a gallon of regular gas in the Tri-Cities is $2.515 per gallon.

Oil prices on the worldwide markets rose to a 7-week high last week and local fuel gas stations are still feeling the effects of the recent storms.

In Paducah, prices ranged from $2.31 to $2.48.

Prices at the pump are falling, after Hurricane Harvey made them skyrocket.

Motorists hoping for a return of the low gas prices before Hurricane Harvey may need to wait several more weeks or months, a leading gas price analysts says. On Sunday, gas prices averaged $2.52. "Since gas price decline is much slower than they rise, it could take a few weeks before they reach equilibrium".

For Tuesday, AAA reported a national average retail price for regular unleaded gasoline at $2.57 per gallon, slightly less than for Monday and about 1.8 percent lower than one week ago. That's still 36 cents more than a month ago and 54 cents more than a month ago.

AAA spokesman Mark Jenkins says now that the worst is over, gas prices are starting to balance out. "Gasoline inventories are continuing to recover after hurricanes Harvey and Irma, and that's helping to put downward pressure on gas prices". It was up from $2.25 a month ago. Companies have reported that roughly two dozen storage tanks holding crude oil, gasoline and other fuels collapsed or otherwise failed during Harvey, spilling a combined 140,000 gallons of fuel, according to an Associated Press analysis of state and federal accident databases.

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