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Gas Prices Down

August 5th, 2013 by WCBC Radio

WBAL reports a nice surprise for those traveling during the summer months, prices at the gas pumps have begun to head downward.  Down by a few cents in the past couple of days.  The national price has fallen by a nickel.  As for Maryland, it's more like 2 cents a gallon.  That's after a more than 20 cent-per-gallon average price hike in July that followed a steady increase in crude oil prices.  The factors for the sudden decline include strong oil and gasoline inventories, refinery output staying strong, a lessening of tensions in the Middle East, and a lack of tropical storm activity in the Gulf region.  There is also the nation's economic output that has remained flat, which means that demand for gasoline is not increasing.  All of those are helping reverse the recent increases, according to oil industry analyst Greg Laskowski of  marylandgasprices.com. Laskowski thinks the decline will continue for at least the next couple of weeks- although the weather could change everything..





 

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