It’s not a trick, but it’s looking like a treat — gas prices have dropped again.
Prices per gallon of gasoline are 3 cents lower in Western Pennsylvania this week at $3.775 per gallon, according to AAA East Central’s gas price report.
In Bradford, the average was $3.759, in Brookville, $3.674, in DuBois, $3.784, in Erie, $3.771 and in Warren, $3.829.
Elsewhere in Pennsylvania, the overall state average was $3.68 per gallon, according to GasBuddy. Prices in Pennsylvania are 18.8 cents per gallon lower than a month ago and stand 30.3 cents per gallon lower than a year ago. The national average price of diesel has fallen 3.4 cents in the last week and stands at $4.43 per gallon.
According to GasBuddy price reports, the cheapest station in Pennsylvania was priced at $2.99 per gallon Sunday while the most expensive was $4.79 per gallon, a difference of $1.80 per gallon.
“Average gasoline prices have fallen for a sixth straight week in nearly every state, with the national average now at its lowest level since March,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
The national average price of gasoline has fallen 5.3 cents per gallon in the last week, averaging $3.45 per gallon Monday. The national average is down 36.3 cents per gallon from a month ago and stands 27.4 cents per gallon lower than a year ago, according to GasBuddy.
De Haan continued, “The West Coast has been home to some of the largest declines, with California seeing an impressive 80-cent drop in the last four weeks, dispelling the myth that prices don’t fall as fast as they go up. In this case, they have gone down extremely quickly, a trend that will see Arizona fall back below $4 this week. Nevada could join the sub-$4 club by Thanksgiving, and some stations in California will soon see a three-handle price return.”
More savings at the pump might be on the way.
“For now, I believe we could see a further 10 to 20 cent drop in the national average in the weeks ahead, but any jolt in the delicate Middle East still holds the potential to disrupt the drop we’re seeing,” De Haan cautioned.
Gas prices continue to trend downward due to lower demand and the cost of oil, which has fallen over the past few days to the low $80s per barrel, according to AAA East Central. According to new data from the Energy Information Administration (EIA), gas demand decreased from 8.94 to 8.86 million barrels per day last week. On the other hand, total domestic gasoline stocks increased slightly to 223.5 million barrels. Lower gas demand, alongside declining oil prices, has contributed to pushing pump prices down.
At the close of last Wednesday’s formal trading session, West Texas Intermediate increased by $1.65 to settle at $85.29. The oil price rose briefly due to concerns that the Israel-Hamas war could escalate soon as Israel prepares for more ground operations. Additionally, the EIA reported that total domestic commercial crude supply increased by 1.4 million barrels to 421.1 million barrels.
