The average price for a gallon of gasoline in Ogden fell 16.4 cents to $4.40 per gallon, according to a weekly GasBuddy survey of 160 Ogden stations. This decrease continues a downward trend that has been observed since the beginning of October.
The average price in Ogden has dropped 51 cents per gallon since the Sept. 28 report. According to GasBuddy price reports, the cheapest station in Ogden was $3.86 per gallon, while the most expensive was $4.85 per gallon.
Statewide, the average price decreased by 12.4 cents to $4.49 per gallon. Nationally, the average price fell 17.1 cents to $4.12 per gallon, while the national average price of diesel declined 5.9 cents to $6.281 per gallon.
Patrick De Haan, head of petroleum analysis at GasBuddy, stated in a news release that average gasoline prices fell in nearly every state over the last week. He noted that diesel declined in most states as refinery maintenance concludes and seasonal demand fades with cooler weather.
De Haan added that the combination of these factors provides relief at the pump for motorists. However, he noted that volatility could return after the election, with potential outcomes involving the Strait of Hormuz or continued Ukrainian strikes on Russian refineries dictating future price directions as the holidays approach.
In Sunday trading, oil fell nearly $2, with WTI at $102.15 per barrel and Brent at $111.52.
The current downward trend in gasoline prices is part of a broader market shift as seasonal demand decreases.
