logo
Weather page
GET THE APP
ePaper
google_play
app_store
  • Login
  • E-Edition
  • News
  • Sports
  • Obituaries
  • Opinion
  • Classifieds
    • Place an Ad
    • All Listings
    • Jobs
  • Special Sections
  • Photo Gallery
  • Contests
  • Lifestyle/Entertainment
  • Games
    • News
      • Local News
      • PA State News
      • Nation/World
    • Sports
      • Local
      • College Sports
      • State
      • National
    • Obituaries
    • Opinion
      • News
        • Local News
        • PA State News
        • Nation/World
      • Sports
        • Local
        • College Sports
        • State
        • National
      • Obituaries
      • Opinion
    logo
    • Classifieds
      • Place an Ad
      • All Listings
      • Jobs
    • E-Edition
    • Subscribe
    • Login
      • Classifieds
        • Place an Ad
        • All Listings
        • Jobs
      • E-Edition
      • Subscribe
      • Login
    Home News Prices at the pump head below $3 in much of US
    Prices at the pump head below $3 in much of US
    Nation, News
    September 25, 2014

    Prices at the pump head below $3 in much of US

    NEW YORK (AP) — The price of a gallon of gasoline may soon start with a “2” across much the country.

    Gasoline prices typically decline in autumn, and this year they are being pulled even lower by falling global oil prices. By the end of the year, up to 30 states could have an average gasoline price of less than $3 a gallon.

    The average in Springfield, Missouri, is already below $3, according to Tom Kloza, chief oil analyst at the Oil Price Information Service and GasBuddy.com. Several other cities are on the brink.

    “And there will be more, many more,” Kloza said. Cities in high-priced states such as California and New York will not be among them, though, which will probably keep the national average above $3.

    At the current national average of $3.35 a gallon, gas is a dime cheaper than a year ago at this time. The gap is 20 cents or more in seven states, including California, Kansas, South Dakota and Connecticut, according to AAA.

    Lower fuel prices help the economy in a few ways. They make goods cheaper to ship and make travel more affordable. Drivers are left with a few extra dollars in their pockets. And consumers grow confident enough to make other purchases, perhaps even a big-ticket item. Consumer spending is 70 percent of the U.S. economy.

    Aidan Obrecht, a 20-year-old community college student from Boothwyn, Pennsylvania, said gas in his area has fallen 10 to 20 cents over the past couple of weeks. He paid $3.27 a gallon Thursday to fill up his Ford Taurus on his way to work at a CVS pharmacy.

    “I’m living paycheck to paycheck, so it’s nice to be able to save” he said. “Even if it’s $5 or $10 extra (after a fill-up), it adds up over the long run.”

    Fall is when refiners are allowed to switch to a cheaper blend of gasoline for the cooler months, and driving demand declines after summer vacations have ended. 

    Refinery problems or hurricanes can halt the typical autumn price decline temporarily by reducing gasoline production. For example, a reported outage at a refinery in Eastern Canada that supplies the Northeast with gasoline is likely to push the price at the pump slightly higher in some markets over the next few days. 

    But by late October prices are usually well on their way lower.

    Last year, the national average fell 28 cents per gallon between Sept. 1 and Dec. 31. This year, gasoline had a head start. It entered September at its lowest level for the beginning of the month in four years — and the price of crude oil was rapidly heading lower.

    The drop in global crude oil prices is a surprise. Despite increasing violence and turmoil in the Middle East, the world’s most important oil-producing region, the global price of oil has fallen to $97 a barrel, close to its lowest level in more than two years.

    That’s partly because new technology has allowed U.S. drillers to consistently increase production from fields in North Dakota and Texas, adding to global supplies. At the same time, world demand is not growing as much as anticipated because of slower economic growth in China and Europe.

    The increase in domestic supplies is also helping avoid dramatic spikes in gasoline prices, which economists say is more damaging to consumer confidence than prices that rise gradually. This year, the national average peaked at $3.70 per gallon in April. Last year, the peak was $3.79, and the year before it was $3.94.

    The national average for gasoline is not likely to fall all the way to $3 because of a number of factors. Some state gasoline taxes have increased. Loyalty programs that offer discounts to members at many stations keep listed prices higher than what drivers actually pay. And some states have adopted regulatory rules that will probably add a few cents per gallon, Kloza said.

    He predicts the national average will end the year somewhere between $3.15 and $3.25 per gallon.

    Some analysts, including Bernstein Research’s Oswald Clint, predict oil will soon head back up as OPEC countries respond to lower prices by cutting back and consumers respond by burning more fuel.

    But many predict moderate oil and gasoline prices for this year and next. The Energy Department estimates the national average gasoline price for all of 2014 will be $3.46 a gallon, its lowest annual average since 2010. The government predicts the average will fall again, to $3.41, in 2015.

    Phil Flynn, an oil analyst at Price Futures Group, expects an even bigger decline as U.S. oil companies produce more oil, refiners make more gasoline and demand for gasoline stays relatively low because of more fuel-efficient vehicles.

    “For the regular driver, it’s the best of times,” he said. “Many are going to be shocked at how low prices go, but I’m saying ‘get used to it.”’

    ———

    Jonathan Fahey can be reached at http://twitter.com/JonathanFahey .

    Tags:

    nation news
    JONATHAN FAHEY, AP Energy Writer

    The Bradford Era

    Local & Social
    Latest news for you
    Penguins forward Sidney Crosby named to Canada’s preliminary Olympic roster
    National Sports
    Penguins forward Sidney Crosby named to Canada’s preliminary Olympic roster
    June 17, 2025
    (TNS)—Pittsburgh Penguins forward Sidney Crosby was named to Canada's preliminary roster for the 2026 Olympics which will be held in Italy. All partic...
    Read More...
    {"to-print":"To print", "bradfordera-website":"Website"}
    Carmen Mlodzinski embraces return to bullpen as Pirates tinker with his role
    Local Sports
    Carmen Mlodzinski embraces return to bullpen as Pirates tinker with his role
    Justin Guerriero The Tribune-Review, Greensburg 
    June 17, 2025
    (TNS) —Carmen Mlodzinski has not backed off his conviction that he can be an effective starting pitcher at the major-league level. While Mlodzinski is...
    Read More...
    {"to-print":"To print", "bradfordera-website":"Website"}
    Hidden Valley Gets Season Started with Condon Memorial
    Local Sports
    Hidden Valley Gets Season Started with Condon Memorial
    Jo Wankel 
    June 17, 2025
    CLEARFIELD - Karen Condon must have a way with Mother Nature, as Hidden Valley Speedway was finally able to get the season opened Friday with the 4th ...
    Read More...
    Bradford Major Softball All-Stars
    Local Sports
    Bradford Major Softball All-Stars
    Jo Wankel 
    June 17, 2025
    The 2025 Bradford Major Softball All-Stars are, from left, Madilynn Brown, Kaelyn Drake, Claire Henretta, Isabella Lowe, Chloe Lekas, Leah Calkins, Lu...
    Read More...
    {"to-print":"To print", "bradfordera-website":"Website"}
    Husband has shown his priorities aren’t at home
    Lifestyles
    Husband has shown his priorities aren’t at home
    June 17, 2025
    DEAR ABBY: My husband works out of state for an oil rigging company 20 days out of the month. He gets 10 days off. When he comes home, we may have two...
    Read More...
    {"to-print":"To print", "bradfordera-website":"Website"}
    When in need of an extra hand
    Lifestyles
    When in need of an extra hand
    June 17, 2025
    Dear Heloise: I use pistol-grip grabbers/reachers to pick up small branches from the yard after wind storms. It's also handy for getting things from h...
    Read More...
    {"to-print":"To print", "bradfordera-website":"Website"}
    ePaper
    google_play
    app_store
    This Week's Ads
    Current e-Edition
    ePaper
    google_play
    app_store
    Already a subscriber? Click the image to view the latest e-edition.
    Don't have a subscription? Click here to see our subscription options.
    Mobile App

    Download Now

    The Bradford Era mobile app brings you the latest local breaking news, updates, and more. Read the Bradford Era on your mobile device just as it appears in print.

    ePaper
    google_play
    app_store
    Trending Recipes

    Help Our Community

    Please help local businesses by taking an online survey to help us navigate through these unprecedented times. None of the responses will be shared or used for any other purpose except to better serve our community. The survey is at: www.pulsepoll.com $1,000 is being awarded. Everyone completing the survey will be able to enter a contest to Win as our way of saying, "Thank You" for your time. Thank You!

    Get in touch with The Bradford Era
    Submit Content
    • Submit News
    • Letter to the Editor
    • Place Wedding Announcement
      • Submit News
      • Letter to the Editor
      • Place Wedding Announcement
    Advertise
    • Place Birth Announcement
    • Place Anniversary Announcement
    • Place Obituary Call (814) 368-3173
      • Place Birth Announcement
      • Place Anniversary Announcement
      • Place Obituary Call (814) 368-3173
    Subscribe
    • Start a Subscription
    • e-Edition
    • Contact Us
      • Start a Subscription
      • e-Edition
      • Contact Us
    CMG | Community Media Group
    Illinois
    • Hancock Journal-Pilot
    • Iroquois Times-Republic
    • Journal-Republican
    • The News-Gazette
      • Hancock Journal-Pilot
      • Iroquois Times-Republic
      • Journal-Republican
      • The News-Gazette
    Indiana
    • Fountain Co. Neighbor
    • Herald Journal
    • KV Post News
    • Newton Co. Enterprise
    • Rensselaer Republican
    • Review-Republican
      • Fountain Co. Neighbor
      • Herald Journal
      • KV Post News
      • Newton Co. Enterprise
      • Rensselaer Republican
      • Review-Republican
    Iowa
    • Atlantic News Telegraph
    • Audubon Advocate-Journal
    • Barr’s Post Card News
    • Burlington Hawk Eye
    • Collector’s Journal
    • Fayette County Union
    • Ft. Madison Daily Democrat
    • Independence Bulletin-Journal
    • Keokuk Daily Gate City
    • Oelwein Daily Register
    • Vinton Newspapers
    • Waverly Newspapers
      • Atlantic News Telegraph
      • Audubon Advocate-Journal
      • Barr’s Post Card News
      • Burlington Hawk Eye
      • Collector’s Journal
      • Fayette County Union
      • Ft. Madison Daily Democrat
      • Independence Bulletin-Journal
      • Keokuk Daily Gate City
      • Oelwein Daily Register
      • Vinton Newspapers
      • Waverly Newspapers
    Michigan
    • Iosco County News-Herald
    • Ludington Daily News
    • Oceana’s Herald-Journal
    • Oscoda Press
    • White Lake Beacon
      • Iosco County News-Herald
      • Ludington Daily News
      • Oceana’s Herald-Journal
      • Oscoda Press
      • White Lake Beacon
    New York
    • Finger Lakes Times
    • Olean Times Herald
    • Salamanca Press
      • Finger Lakes Times
      • Olean Times Herald
      • Salamanca Press
    Pennsylvania
    • Bradford Era
    • Clearfield Progress
    • Courier Express
    • Free Press Courier
    • Jeffersonian Democrat
    • Leader Vindicator
    • Potter Leader-Enterprise
    • The Wellsboro Gazette
      • Bradford Era
      • Clearfield Progress
      • Courier Express
      • Free Press Courier
      • Jeffersonian Democrat
      • Leader Vindicator
      • Potter Leader-Enterprise
      • The Wellsboro Gazette
    © Copyright The Bradford Era 43 Main St, Bradford, PA  | Terms of Use  | Privacy Policy
    Powered by TECNAVIA