Analyst is not on board with “Gas Price Crash”

PENNSYLVANIA – Average retail gasoline prices in Pennsylvania have fallen 6.3 cents per gallon in the past week, averaging $3.44 per gallo yesterday, according to GasBuddy’s daily survey of 5,269 gas outlets in Pennsylvania. This compares with the national average that has fallen 8.0 cents per gallon in the last week to $3.25 per gallon, according to gasoline price Web site GasBuddy.com.

Including the change in gas prices in Pennsylvania during the past week, prices yesterday were 12.8 cents per gallon higher than the same day one year ago and are 17.7 cents per gallon lower than a month ago. The national average has decreased 18.3 cents per gallon during the last month and stands 1.3 cents per gallon higher than this day one year ago.

“The drop in gas prices certainly has been well noted- in some instances people have been calling this a gas price crash. Dub it whatever you like, but I’ll remind motorists: gasoline prices in some areas still could set all-time record highs for

Christmas Day,” said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. “While it is excellent that gasoline prices have dropped, I’m not on board with this being called a gas price crash. Call me a grinch, call me a realist, but at the end of the day, data doesn’t lie- and that data shows that gasoline prices are still clinging near all-time highs for today’s date,” DeHaan said.

About GasBuddy.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 25 million times to help motorists find the lowest gasoline prices in their area.

 

 

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