ROCKFORD (WREX) — let’s hope the prices at the pump continue to fall.
The average prices in Rockford have fallen by 6 cents in the last week, bringing the average down to $4.30.
Still, the price per gallon is up 21 cents from last month and stand at $1.30 higher than a year ago.
The price drop is close to the national average – dropping 5 cents per gallon in the last week.
“Oil prices fell last week as Covid cases in China surged, prompting restrictions on movements and hurting oil demand. Meanwhile, President Biden’s announcement that the US would be releasing 180 million barrels from the Strategic Petroleum Reserve caused an even further decline in oil, leading gas prices in nearly all Areas of the country to fall over the last week,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
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