In 2022, during the week of May 20, gas prices were approaching $5 per gallon in Pennsylvania at an average of $4.76.
In Bradford these days, the average popped back to $3.897 per gallon, where it had been for three straight weeks before dipping slightly to 3.877 last week.
Filling a 25-gallon tank this week would be more than $20 cheaper than this time two years ago: $119 in 2022 versus $97.43 in 2024.
AAA East Central said average prices in the region decreased another penny this week to $3.815 per gallon.
In Brookville, it was $3.700; in DuBois, $3.793; in Erie, $3.829; and in Warren, $3.899.
Overall in Pennsylvania, the average price fell 2.6 cents per gallon to rest at $3.73 Monday. This week’s average is 7.9 cents lower than a month ago and 9.6 cents more than a year ago.
For diesel, the national average fell 3.3 cents during the last week and stood Monday at $3.86 per gallon.
GasBuddy reported the highest- and lowest-priced stations in Pennsylvania on Sunday differed by $1.30 per gallon, from $3.19 to $4.49.
On May 20 during the prior 10-year period, 2022’s prices in Pennsylvania, $4.76 per gallon, and nationally, $4.60, were the highest by far. Next closest were $3.76 and $3.64, respectively, in 2014. The lowest — $2.20 and $1.92 — were recorded in 2020. In second is 2016 at $2.43 and $2.28.
According to AAA East Central, the national average price for regular gasoline fell 2 cents to $3.59. The cost of oil remained below $80 per barrel and, coupled with weak domestic demand, contributed to prices 8 cents lower than a month ago, but still 5 cents more than a year ago.
“The news continues to be good for motorists ahead of Memorial Day, with gasoline prices again falling, making it four straight weeks of declines for the national average as we get closer to the start of the summer driving season,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “The good news doesn’t necessarily end there, either. GasBuddy’s Summer Travel Forecast predicts that gas prices over the next few months will stay far under record levels and should continue trending lower as we get closer to July 4. While the Middle East, hurricane season, refinery maintenance and any other unexpected disruptions or weather remain wildcards, this summer is shaping up to be mostly favorable for drivers hitting the road.”
According to new data from the Energy Information Administration (EIA), gas demand rose modestly from 8.79 million barrels per day to 8.87 last week. Meanwhile, total domestic gasoline stocks decreased slightly from 228 to 227.8 million barrels. Lackluster pre-Memorial Day demand and steady or falling oil prices are contributing to lower pump prices.
At the close of Wednesday’s formal trading session, West Texas Intermediate increased by 61 cents to settle at $78.87 a barrel. Prices rose as the EIA reported that crude oil inventories had decreased by 2.5 million barrels from the previous week. At 457 million barrels, U.S. crude oil inventories are about 4% below the five-year average for this time of year.
