Gas prices — notwithstanding Tuesday’s deal at Sheetz — have been unchanged or lower by a penny in the past week in this part of Pennsylvania.
The average price in the state, according to GasBuddy, was $3.62 per gallon on Monday, which is 2.9 cents a gallon lower than a month ago and $1.258 lower than a year ago. The national average price of diesel has fallen 3.4 cents in the last week and stands at $3.80 per gallon.
In Western Pennsylvania, the average is a penny lower at $3.637 per gallon. In Bradford the average price was $3.697, in Brookville, $3.511, in DuBois, $3.440, in Erie, $3.671, and in Warren, $3.698.
According to GasBuddy price reports, the cheapest station in Pennsylvania was priced at $2.78 per gallon on Sunday while the most expensive was $4.29 per gallon, a difference of $1.51 per gallon.
The national average price of gasoline has fallen 4.1 cents per gallon in the last week, averaging $3.50 per gallon as of Monday. The national average is down 1.9 cents per gallon from a month ago and stands $1.29 cents per gallon lower than a year ago, according to GasBuddy.
Patrick De Haan, head of petroleum analysis at GasBuddy, said prices fell considerably just ahead of the holiday.
“Just ahead of Independence Day, the national average (fell) to its lowest level since late April, with oil prices remaining under considerable pressure due to a cloudy outlook for the global economy,” he said. “We could see gasoline prices under some additional pressure soon, especially as we head into the closing innings of summer next month.”
De Haan continued, “For now, gasoline demand will likely ramp up as we enter the peak of the summer, with millions of Americans set to take to the roads with some of the season’s lowest average gasoline prices. At the half point of the year, the national average is right at the level we anticipated for a full-year average.”
It’s good news, and may mean more good news for motorists for the remainder of 2023.
“I believe we may see prices close out the second half of the year below our expectations, which would be welcome news for motorists, and the possibility exists that the national average this fall could fall under $3 per gallon,” De Haan said.
AAA forecast that more than 50 million people are celebrating the nation’s birthday by traveling, with a record 43.2 million going by car.
According to data from the Energy Information Administration (EIA), gas demand decreased slightly from 9.38 to 9.31 million b/d last week. Meanwhile, total domestic gasoline stocks increased by 600,000 barrels to 220 million barrels. Lower gas demand amid increasing supply has helped to limit pump price increases.
