Gas Prices Still High, but Drop is Forecasted - KHGI-TV/KWNB-TV/KHGI-CD-Grand Island, Kearney, Hastings

Gas Prices Still High, but Drop is Forecasted

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Although gas prices are noticeably higher than they were last month, analysts say there could be hope on the horizon.

Average retail gasoline prices in Nebraska have fallen 1 cent per gallon in the past week, now averaging $3.74 per gallon Sunday.

This is according to GasBuddy's daily survey of 1,150 gas outlets in Nebraska.

Meanwhile the national average that has increased 2.9 cents per gallon in the last week now sits at $3.72 per gallon.

In Nebraska, prices on Sunday were just over 11 cents per gallon higher than the same day one year ago and have increased 43.3 cents per gallon in the past month.

The national average has increased 42.0 cents per gallon during the last month and stands 9.1 cents per gallon higher than this day one year ago.

"The streak is over," said Senior Petroleum Analyst Patrick DeHaan.

"GasBuddy data showed the national average rising for 32 consecutive days -- starting January 20 at $3.265 per gallon, and ending February 21 at $3.733 per gallon," said DeHann.

"The tide has now turned and the national average has dropped two days straight. This is certainly excellent news for disillusioned motorists -- but I would caution them not to get overly thrilled as prices may linger near these levels for some time," DeHaan said.

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