GREATER PHILADELPHIA — Despite the national average price for a gallon of gas sitting about 10 cents above where it was at this time last year, gas prices in the Greater Philadelphia area have remained fairly steady over the past week. As the summer travel season winds down, data from AAA shows that the current gas price in the area is $3.90, a slight increase of 2 cents (+0.5%) from the previous week.
This regional stability comes amidst refinery issues on the West Coast and ongoing production cuts by the Organization of the Petroleum Exporting Countries (OPEC), both of which are expected to keep gas prices higher across the nation.
However, there may be relief in sight. Many states are set to switch away from their pricier summer blends of gasoline soon, which could potentially lead to a drop in prices. This is a typical trend observed during the fall, according to the fuel price tracking website GasBuddy.
Comparatively, Pennsylvania’s average gas price stands slightly lower than Philadelphia’s, at $3.85. Over the past year, the price has increased by just one cent (+0.2%), with the historical high recorded at $5.12 on June 12, 2022.
Diesel prices, on the other hand, have seen a more significant weekly increase of 9 cents (+1.9%), bringing the current price to $4.82. Interestingly, diesel prices have dropped by 39 cents (-7.6%) compared to the same period last year. The highest diesel price in the area was noted on May 21, 2022, at $6.51.
On a national scale, the metros with the most expensive gas include San Luis Obispo-Atascadero-Paso Robles, CA ($5.64), San Rafael, CA ($5.53), and Los Angeles-Long Beach, CA ($5.52). Meanwhile, the least expensive gas can be found in Alexander County, IL ($0.00), McAllen-Edinburg-Mission, TX ($3.16), and Monroe, LA ($3.18).
As we move into the fall season, consumers in the Greater Philadelphia area will undoubtedly be keeping a close eye on these trends, particularly as they relate to potential decreases in gas prices.
For the latest news on everything happening in Chester County and the surrounding area, be sure to follow MyChesCo on Google News and MSN.