Gas prices favoring holiday travel, somewhere
America’s estimated 39.4 million people expected to travel by car over Memorial Day weekend — 1 million more than last year — will pay about 40 cents less per gallon than in 2024.
EV drivers can expect to pay a nationwide average of 36 cents per kilowatt hour — the same cost as in 2024, when public electric vehicle charging costs more than doubled from the prior year (17 cents in 2023, 16 cents in 2022, 14 cents the prior three years).
For gasoline during the last 10 years, state- and nationwide, drivers paid the most in 2022, at $4.77 and $4.60, and the least in 2020 at $2.18 and $1.90.
“While Americans are still seeing significant (gasoline) savings compared to a year ago, that gap has narrowed as oil prices have rebounded,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “For now, motorists can expect one of the most affordable summers for hitting the road since the pandemic, with gas prices tracking at some of the lowest inflation-adjusted levels in years.”
This year’s domestic travel forecast, according to AAA, exceeds last year’s total of 44 million travelers during the holiday period, Thursday to Monday. The travel service’s estimate is based on people planning to travel at least 50 miles from home, by any means.
McKean County motorists will have to drive at least that far to find any kind of relief at a Pennsylvania pump, as Bradford’s prices are unchanged this week at $3.594. In Warren — about 36 miles away — prices shed two-tenths of 1 cent to stand at $3.697 Monday. It would take a drive of at least 70 miles to find lower in-state prices. In Brookville, prices rested at $3.42 this week, up 2 cents. In Erie and DuBois, prices increased 3.8 cents and decreased 3.7 cents, respectively, to each rest at $3.351.
Regionally, according to AAA East Central, gas prices are down 1.8 cents this week to $3.495. Statewide, prices ticked up 1.6 cents to $3.28 Monday. That remains 5.6 cents less than a month ago and 44.6 cents less than a year ago. The margin between the cheapest and the most expensive stations in the Keystone State decreased by 2 cents, varying from $2.77 to $4.39 — a gap of $1.62.
Nationwide, gasoline and diesel both increased this week. Gas rose 6.1 cents per gallon to $3.14, while diesel was up 2.9 cents to $3.502, according to GasBuddy. The nation’s average gas price is 1.9 cents more than last month, but still 41 cents less than last year.
According to AAA, the country’s priciest gas markets are in California, $4.92, and Hawaii, $4.49. Motorists pay the least in Mississippi, $2.66, and Tennessee, $2.71.
“Gasoline prices jumped in over three-quarters of U.S. states over the last week, as oil prices surged following former President Trump’s decision to reduce tariffs and strike new trade deals — moves that inspired optimism that a major tariff-induced economic slowdown might be avoided,” De Haan said. “In addition to gains in price-cycling markets, rising oil prices — fueled by economic optimism and tightening gasoline inventories — contributed to broader upward pressure on prices.”
According to new data from the Energy Information Administration (EIA), gasoline demand increased from 8.71 million barrels per day last week to 8.79. Total domestic gasoline supply decreased from 225.7 million barrels to 224.7. Gasoline production decreased last week, averaging 9.4 million barrels per day.
At the close of Wednesday’s formal trading session, West Texas Intermediate fell 52 cents to settle at $63.15 a barrel. According to the EIA, crude oil inventories increased by 4 million barrels from the previous week. At 441.8 million barrels, U.S. crude oil inventories are about 6% below the five-year average for this time of year.
Motorists can find current gas prices nationwide, statewide and countywide at gasprices.aaa.com.