Prices at the pump continue to fall - FOX 8, WVUE, fox8live.com, weather, app, news, saints

Prices at the pump continue to fall

New Orleans, LA -  Drivers in the New Orleans area are continuing to see lower gasoline prices.  According to GasBuddy.com, the average prices is hovering around $3 a gallon.  That's down 6 cents per gallon from a week earlier.  The average price is now around $3.02 a gallon. 

Prices are down nearly 6 cents a gallon nationwide as well, but are significantly higher than prices here in New Orleans.  GasBuddy.com says average prices nationwide are $3.30 a gallon.  

The latest numbers are much lower than this same time a year ago.  Including the change in gas prices in New Orleans during the past week, prices are 38.6 cents per gallon lower than the same time in 2012.  When compared to just a month ago, prices are 16.8 cents per gallon lower.  The national average has decreased 13.3 cents per gallon during the last month and stands 26.4 cents per gallon lower than this day one year ago.

"Last week saw new downward momentum in crude prices- after staying above $100 a barrel for 111 days since early July, crude prices fell below $100 and just days ago closed as low as $96 a barrel," said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan.

"In turn, the sudden drops in crude prices have pushed gasoline futures down as well, with motorists on the winning side of this all. The national average has picked up some steam on it's downward trend and in some areas of the U.S., the wholesale price of gasoline is nearing yearly lows, which is adding up to significant savings for motorists. Americans are spending over $100 million per day less on gasoline than they did a year ago, and I'm willing to bet if every motorist used the GasBuddy app, the savings would be twice as significant," DeHaan said.

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