Analyst: 2012 to Set All-time Record High for Yearly Gas Average

Average retail gasoline prices in Pennsylvania have fallen 2.7 cents per gallon in the past week, averaging $3.57 per gallon yesterday. This compares with the national average that has fallen 3.7 cents per gallon in the last week to $3.39 per gallon, according to gasoline price Web site PennsylvaniaGasPrices.com.

Including the change in gas prices in Pennsylvania during the past week, prices yesterday were 23.5 cents per gallon higher than the same day one year ago and are 7.4 cents per gallon lower than a month ago. The national average has decreased 11.3 cents per gallon during the last month and stands 10.0 cents per gallon higher than this day one year ago.

“While the national average continues to fall, we’ve done the math- the yearly average in 2012 is all but guaranteed to set all-time record highs,” said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. “We still stand at $3.63 per gallon for a yearly average, and gasoline prices would need to average no more than

$2.35 per gallon for every day left in 2012 for the national yearly average to drop below 2011, something that appears impossible. In the meanwhile, we have lowered our forecast for Christmas gasoline prices to average between $3.25 and $3.35 per gallon,” DeHaan said.

About PennsylvaniaGasPrices.com

GasBuddy operates PennsylvaniaGasPrices.com and more than 250 similar Web sites that track gasoline prices at more than 140,000 gasoline stations in the United States and Canada. In addition, GasBuddy offers a free smartphone app, which has been downloaded more than 20 million times to help motorists find gasoline prices in their area. In Pennsylvania, GasBuddy tracks price changes at 5,269 retail outlets.

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