Analyst: National Gas Price Average likely to Continue Decline

PENNSYLVANIA – Average retail gasoline prices in Pennsylvania have fallen 3.5 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 5.7 cents per gallon in the last week to $3.50 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 14.4 cents per gallon higher than the same day one year ago and are 3.1 cents per gallon lower than one month ago. The national average has decreased 13.6 cents per gallon during the last month and stands 12.9 cents per gallon higher than this day one year ago.

“After an impressive surge abated several weeks ago, we’re seeing gasoline prices decline nicely,” said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. “One in five states currently has at least one gas station with gasoline under $3 per gallon: South Carolina, Alabama, Tennessee, Oklahoma, Ohio, Texas, New Mexico, Virginia, Indiana, and Michigan all have at least one station statewide under $3. The national average is likely to continue its decline this week as retail prices catch up to the decrease in wholesale gasoline prices,” DeHaan said.

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.

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