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Gasoline Prices Continue Falling in Maine
11/04/2013 05:59 PM ET  

A senior analyst with GassBuddy.com says the downward trend reflects healthy inventories of gasoline and crude oil, robust refinery operations and continuing declines in crude oil prices.

Gasoline prices continue to fall in Maine. GasBuddy.com says the average price has dropped 3 cents in the past week to $3.40 a gallon. That's 12 cents less than a month ago.

Senior Analyst Greg Laskoski says the downward trend reflects healthy inventories of gasoline and crude oil, robust refinery operations and continuing declines in crude oil prices.

"That's important because, for a long time, from July until Oct. 21, we saw crude oil trading above $100 a barrel," he says. "Now with crude oil moving lower, we're seeing lower wholesale and retail gasoline prices, and we expect this trend to continue through the remainder of the year."

Laskoski says gasoline prices could move another 10 to 15 cents lower between now and Christmas.

This story was reported and written by Ed Morin.



 

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