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Tuesday, August 19, 2014

N.H. gas prices 14 cents lower than this time last year

New Hampshire gasoline prices continue to be lower than a year ago.

Average retail gasoline prices have fallen 3.7 cents per gallon in the past week, averaging $3.48 per gallon as of Aug. 17, according to GasBuddy’s daily survey of 875 gas outlets in New Hampshire. This is virtually identical to the national average of $3.49. ...

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New Hampshire gasoline prices continue to be lower than a year ago.

Average retail gasoline prices have fallen 3.7 cents per gallon in the past week, averaging $3.48 per gallon as of Aug. 17, according to GasBuddy’s daily survey of 875 gas outlets in New Hampshire. This is virtually identical to the national average of $3.49.

New Hampshire gas prices yesterday were 13.7 cents per gallon lower than the same day one year ago, and 14.2 cents per gallon lower than a month ago.

Gas prices have been falling much of the summer, largely due to increasing output, most notably from within the U.S. itself, where oil production is soaring due to new drilling technologies and increased production from fields by “fracking.”

“The national average has now dropped to its lowest level since February, and with the end of the summer driving season nearing, we’ll likely see gas prices continuing the downward trend,” said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. “Oil prices last week dropped to $95 a barrel briefly before rising the next day back to $97, but the important factor is that prices remain under triple digits. For motorists, we’re nearing the point that gasoline demand drops – after Labor Day – and also the upcoming switch back to cheaper winter gasoline will also put downward pressure on prices in mid-September.

“It won’t be long before we’ll start to see a few cities seeing averages under $3 a gallon. Areas of Tennessee and South Carolina are already getting close,” DeHaan said.

The national average has decreased 8.9 cents per gallon during the last month and stands 4.2 cents per gallon lower than this day one year ago.

– Telegraph staff