Holiday gas prices lowest since 2020
A record number of holiday travelers — 61.6 million — hit the road for the Fourth of July , enjoying the lowest average gasoline prices since 2020, according to AAA East Central and GasBuddy.
American motorists could expect to pay $3.09 per gallon, down another 5 cents this week. GasBuddy’s review of more than 11 million weekly price reports from more than 150,000 gas stations nationwide pins this week’s average at 1.1 cents less than a month ago and 37.4 cents less than a year ago.
The average cost for a gallon of diesel fuel also decreased this week, by 3.2 cents to $3.644.
“Nearly every state saw average gas prices decline for the second straight week, even as the nation celebrated July 4 with the lowest national average for Independence Day since 2020,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “That downward momentum may continue, as OPEC’s weekend decision to boost production by a larger-than-expected 548,000 barrels per day in August adds further pressure to oil prices — potentially accelerating supply builds. If tensions in the Middle East remain contained and the Gulf is spared from major hurricanes, the odds are improving that the national average could dip below $3 per gallon later this summer, but in the meantime we could see the national average falling to its lowest summer level since the pandemic.”
Twenty states recorded average gas prices below $3 per gallon this week — Pennsylvania is not one of them — from New Mexico to Missouri to South Carolina, according to AAA.
Mississippi is home to the nation’s lowest gas prices, averaging approximately $2.69 per gallon.
The cheapest station in Pennsylvania this week is still higher than Mississippi’s average, at $2.88. Its most expensive station was selling gasoline for $3.89, a difference of $1.14 per gallon.
The commonwealth’s average checked in at $3.31 on Monday — a decrease of 7 cents from last week, 10.8 cents more than last month and 34.7 cents less than last year. The Keystone State is among the country’s top 10 most expensive gasoline markets this week.
Prices dipped across Western Pennsylvania as well, by 6.1 cents to $3.495. In Bradford, the average cost of a gallon of gas shed 1.9 cents to $3.613, while prices increased one-tenth of 1 cent in Warren to $3.662. In DuBois, prices dropped 5 cents to $3.353. Brookville’s average fell 14.3 cents to $3.264. Erie’s average was down 7.8 cents to $3.516. These figures are according to AAA East Central’s weekly regional price report.
AAA representatives said in a press release, “The extra oil in the market has helped accommodate an annual surge in demand that normally takes hold over the summer traveling season.”
Motorists can find current gas prices nationwide, statewide and countywide at gasprices.aaa.com.