Gas prices appeared to be easing today following restoration of a
major supply pipeline to full operation.
The average price of a gallon of regular gasoline today was $3.14,
down from $3.178 a gallon on Monday, according to AAA, the motor club.
Nationally, the average price of regular gas Tuesday was $3.041, down
from $3.057 on Monday, the motor club said.
As wholesale prices for gas began their first decline since Hurricane Katrina crippled gas refineries on the Gulf Coast Monday, the good news was quickly reflected at area pumps.
At the 1 p.m. close of trading on the New York Mercantile Exchange, gasoline for October delivery fell 23.40 cents, or 9.7 percent, to $2.175 a gallon.
Many stations that had been charging $3.29 or $3.39 for a gallon of regular unleaded dropped their prices by at least a few cents per gallon. The Hess on Capital Boulevard in Raleigh was charging $3.25 around 1:30 p.m.
However, long-term relief from the high prices at the pump may still be a week or more away. Mass shipments of gas from Europe and the U.S.'s national reserve aren't expected to start arriving for a week or two, and even though a main pipeline from the Gulf Coast has been partially restored, it may take a while for the gas in it to work its way here.
Raleigh police say they've seen an increase in gas thefts this year -- mostly in the form of drive-offs. The number of reported gas larcenies rose from 60 in January to 122 in August. The average theft in August involved $27.27 worth of fuel.
Consumers can report price gouging to the federal government's Gas Price Watch.