Local News

Fort Wayne weekly gas price update

FORT WAYNE, Ind. (WOWO): The price at the pump is inching its way up.

Average retail gas prices in Fort Wayne have risen 9.5 cents per gallon in the past week, averaging $1.84 per gallon yesterday, according to GasBuddy’s daily survey of 201 gas outlets in Fort Wayne. This compares with the national average that has increased 6.8 cents per gallon in the last week to $1.81 per gallon.

Including the change in gas prices in Fort Wayne during the past week, prices yesterday were still 49.3 cents per gallon lower than the same day one year ago, but are 32.8 cents per gallon higher than a month ago. The national average has increased 7.6 cents per gallon during the last month and stands 64.4 cents per gallon lower than this day one year ago.

“Taking a cue from the prior week’s price rebound, retail gasoline prices continued its upward push by increasing nearly 9 cents per gallon on average nationwide,” said Will Speer, GasBuddy senior petroleum analyst.

“While most of the gasoline market was pricing in the premium associated with the transition to summer-blend gasoline, last week’s strength in crude futures prices provided no relief for the rising gas prices,” he said. “Although crude oil production fell to the lowest since November 2014, crude and petroleum stocks remain the highest ever recorded in US history. This oversupply will provide a ceiling for gas prices over the next couple of months as spring refinery maintenance and the summer-blend gasoline transition put upward pressure on prices.”

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