Analyst: “Party at the Pump” may be Temporarily Over

Average retail gasoline prices in Pennsylvania have fallen 2.6 cents per gallon in the past week, averaging $3.45 per gallon yesterday, according to GasBuddy’s daily survey of 5,269 gas outlets in Pennsylvania. This compares with the national average that has fallen 1.6 cents per gallon in the last week to $3.49 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 40.4 cents per gallon lower than the same day one year ago and are 19.5 cents per gallon lower than a month ago. The national average has decreased 13.3 cents per gallon during the last month and stands 32.2 cents per gallon lower than this day one year ago.

“The party at the pump with the seasonally lower prices may be temporarily over,” said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. “We’ve seen situations unfold that have caused a reversal in the downward trend, and those situations are multiplying across portions of the United States and Canada. Along the West Coast, supply has grown tight and will lead to likely increases, and in the Great Lakes prices may spike 10-20 cents/gallon in the next two days in over a half dozen states as a result of a similar situation. Refineries are finishing what was an extensive maintenance season and with plant restarts commencing, problems may develop, putting pressure on prices.”

About GasBuddy

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.

Wet N’ Wild Waterways Geotrail Release Set for May 4
Gabler Announces May Veterans Outreach, Satellite Office Hours

Leave a Reply