Light rain early. Decreasing clouds overnight. Thunder possible. Low 57F. Winds light and variable. Chance of rain 80%..
Light rain early. Decreasing clouds overnight. Thunder possible. Low 57F. Winds light and variable. Chance of rain 80%.
Gasoline prices are displayed at a Sunoco station along the Ohio Turnpike near Youngstown, Ohio, recently. Over the past two weeks, the average price of regular-grade gas in the United States dropped 32 cents.
Gasoline prices are displayed at a Sunoco station along the Ohio Turnpike near Youngstown, Ohio, recently. Over the past two weeks, the average price of regular-grade gas in the United States dropped 32 cents.
The average U.S. price of regular-grade gasoline plunged 32 cents over the past two weeks.
The average across the country is now $4.33 per gallon. According to AAA, the price of gas has fallen every day since hitting a record $5.01 nationwide June 14.
Industry analyst Trilby Lundberg of the Lundberg Survey said Sunday that the continued decline comes as crude oil costs also fall.
“Further drops at the pump are likely as the wholesale gasoline price cuts continue making their way to street level,” Lundberg said in a statement.
The average price at the pump is down 57 cents over the past month, but it’s $1.17 higher than it was one year ago, according to AAA.
Nationwide, the highest average price for regular-grade gas was in California, at $5.71 per gallon. The lowest average was in Texas, at $3.83 per gallon. Pennsylvania’s average is $4.53, which is down 43 cents in the past month.
According to the Lundberg Survey, the average price of diesel dropped 22 cents over two weeks to $5.55 a gallon.
Wholesale U.S. crude prices have fallen 13.5% in the past month, with a barrel of oil back below $100. With a modest climb Monday, the price still sits at $96.70 a barrel. Prices were more than $110 per barrel last month, according to The Associated Press.
Retail gas prices have fallen in step with wholesale prices. Wholesale gasoline was nearly $4 per gallon in late June. The AP listed wholesale prices as low as $3.15 per gallon Thursday, with them up 23 cents to $3.38 since.
Retail prices have not yet followed suit in rising.
Gas prices have shown their largest drop of the summer over the past few weeks. After hitting record highs in early June — crossing the $5 threshold — prices leveled off and then started to trickle downward later in the month, according to AAA.
That trend has continued in July.
“Gas prices coming down is definitely a plus for me. I commute from Lehighton and am fortunate it’s coming down,” said Victor McCandless, 21, Lehighton, at Fuel On Hazleton on Tuesday.
McCandless is a truck driver for Auto Zone and commutes 50 miles round trip five times a week.
“I can remember a couple of years ago it was $1.99. You take it for granted,” he added.
Luzerne County reached a high of $5.17 per gallon June 11 and stayed above $5 through June 25. The average has dropped 47 cents (9.6%) in the past month to $4.51 Tuesday. The reduction in cost has been steady, with weeks generally between 12-15 cents.
Schuylkill County also stands at an average of $4.51 as of Tuesday. That’s down 43 cents (8.7%) in the past month. The average in Schuylkill reached a high of $5.06 on June 12 and was last at $5 on June 23.
Carbon County is back to having the cheapest gas in the area, with its current average per gallon at $4.36. The 55-cent drop is 11.4% less than it was for a gallon of gas in Carbon County a month ago. The high in the county was $5.10 on June 12 and the price there stayed above $5 for another week.
A fill-up of 15 gallons is about $7-$8 cheaper than it was a month ago.
Gas throughout the area has been $4 or higher since late February.
James Esposito Jr., staff writer, contributed to this report.
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