Gas Price Update

December 5, 2011 Updated Dec 5, 2011 at 8:22 AM EDT

By WKBW News

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Gas Price Update

December 5, 2011 Updated Dec 5, 2011 at 8:22 AM EDT

Buffalo, December 5-( release) Average retail gasoline prices in Buffalo have fallen 1.7 cents per gallon in the past week, averaging $3.59/g yesterday. This compares with the national average that has fallen 2.6 cents per gallon in the last week to $3.29/g, according to gasoline price website BuffaloGasPrices.com.

Including the change in gas prices in Buffalo during the past week, prices yesterday were 43.1 cents per gallon higher than the same day one year ago and are 5.8 cents per gallon lower than a month ago. The national average has decreased 13.9 cents per gallon during the last month and stands 35.5 cents per gallon higher than this day one year ago.

"Even as oil and gasoline futures rallied after strong Black Friday sales reports and a drop in unemployment, retail gasoline prices have mover lower," according to GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. "I have a suspicion that as we near 2012, we may see retail prices climb slightly higher again on upbeat holiday spending, which is indicative of a healthier economy. If we remember back to last year, positive holiday sales also led to higher gasoline prices as Christmas approached, which may play out again this year," DeHaan added.

About BuffaloGasPrices.com

GasBuddy.com operates over 250 live gasoline price-tracking websites, including BuffaloGasPrices.com. GasBuddy.com was named one of Time magazine's 50 best websites and to PC World's 100 most useful websites of 2008.