Not to jinx it, but pump prices have fallen or remained flat since Sept. 19.
Costs continued their decline this week, falling another 4 cents per gallon in Western Pennsylvania. The regional average was $3.708 per gallon Monday, according to AAA East Central’s gas price report.
In Bradford, the average was $3.751, in Brookville, $3.612, in DuBois, $3.627, in Erie, $3.679 and in Warren, $3.829.
Elsewhere in Pennsylvania, the overall state average was $3.60 per gallon, according to GasBuddy. Prices in Pennsylvania are 16.8 cents per gallon lower than a month ago and stand 47.6 cents per gallon lower than a year ago. The national average price of diesel has fallen 4.2 cents in the last week and stands at $4.34 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 $4.59 per gallon, a difference of $1.60 per gallon.
The national average price of gasoline has fallen 4.6 cents per gallon in the last week, averaging $3.33 per gallon today. The national average is down 24.8 cents per gallon from a month ago and stands 42.6 cents per gallon lower 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.
“As motorists turn their attention to Thanksgiving, they certainly can be thankful for the decline in gasoline prices, which has now reached eight straight weeks. GasBuddy counts 11 states where average prices are below $3 per gallon, with several more to join this week. Even in California, the nation’s most expensive gasoline average will fall below $5 in the next 48 hours,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
De Haan continued,”Gasoline demand has struggled in recent weeks, falling not only due to the seasonal nature, as Americans drive less as the weather gets colder, but it appears there may be some economic headwinds entering the equation as well.”
No new data was available from the Energy Information Administration (EIA) this week, due to a planned systems upgrade.
At the close of Wednesday’s formal trading session, West Texas Intermediate decreased by $2.04 to settle at $75.33. Oil prices fell this past week due to a stronger dollar and reduced market concerns that the conflict in the Middle East will escalate, which could lead to a reduction in regional oil production and higher prices. Since it is the main ingredient in gasoline, less expensive oil usually leads to falling gas prices.
