While Pennsylvania’s gas prices have fallen by 3 cents, local motorists haven’t seen any savings at the pump, with the average price in Bradford at $3.999 per gallon.
AAA East Central said the average in Brookville was $3.666; in DuBois, $3.865; in Erie, $3.946; and in Warren, $3.999.
According to GasBuddy, average prices in Pennsylvania have fallen by three cents a gallon, averaging $3.91, which is 11 cents per gallon higher than a month ago and 35.7 cents a gallon higher than a year ago.
The cheapest station in Pennsylvania was priced at $3.35 per gallon on Sunday while the most expensive was $4.65 per gallon, a difference of $1.30 per gallon.
The national average price of gasoline has fallen 9.3 cents per gallon in the last week, averaging $3.77 per gallon on Monday. The national average is up 10.2 cents per gallon from a month ago and stands 41.2 cents per gallon higher than a year ago, according to GasBuddy data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.
“Average gas prices have declined for the second straight week with significant declines in the West and Great Lakes having an oversized effect on the drop in the national average,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “With oil prices struggling a bit after reaching $93 after OPEC+’s decision to cut production, many regions could see falling gas prices again this week as demand continues to decline seasonally, especially if more data points to a significant economic slowdown.”
The national average price of diesel stands at $5.30 per gallon.
De Haan said, “While gasoline prices have seen a large drop, diesel prices have been somewhat mixed, with prices heading higher in the Northeast as inventories drop to extremely tight levels ahead of the heating oil season. Motorists are reminded that the decline in gasoline prices is seasonal and should continue into the fall, and is unrelated to the coming election. Seasonality is king in driving prices, not the desires or hopes of politicians.”
Global recession fears and the government’s plan to continue tapping the Strategic Petroleum Reserve into December have helped temper oil prices. While this announcement will help take some of the pressure off pump prices, the exact pricing impact remains uncertain.
According to recent data from the Energy Information Administration (EIA), gas demand increased slightly from 8.28 million barrels per day to 8.68 million barrels per day last week. Total domestic gasoline stocks decreased marginally from 209.5 million barrels to 209.4 million barrels. Although gasoline demand is up slightly, it remains nearly 1 million barrels lower than this date last year.
