Average retail gasoline prices in Pennsylvania have not moved in the past week, averaging $2.81 per gallon yesterday, according to GasBuddy’s daily survey of 5,269 gas outlets in Pennsylvania.
This compares with the national average that has increased 5.0 cents per gallon in the last week to $2.71 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 95.3 cents per gallon lower than the same day one year ago and are 21.3 cents per gallon higher than a month ago.
The national average has increased 26.9 cents per gallon during the last month and stands 94.0 cents per gallon lower than this day one year ago.
“The rise we’ve seen in the national average over the month is showing signs of fading,” said Patrick DeHaan, GasBuddy senior petroleum analyst.
“Crude oil prices have fallen from their 2015 highs and currently stand some $2/bbl lower at $59/barrel. While higher demand is expected for this Memorial Day weekend, crude oil inventories remain plentiful and stand some 86 million barrels higher than a year ago.
“That reminder could inspire some selling in crude oil, as could bearish comments recently made by OPEC, or data showing that the 24-week decline in oil rigs is greatly slowing down.”
Monthly comparisons show all 50 states seeing higher prices than they stood four weeks ago, with the largest jumps taking place in Ohio, Michigan and California, where prices moved up by at least ten cents a gallon.
Meanwhile, all 50 states still stand lower today than a year ago, with the biggest drops in Michigan, Indiana and Kentucky, where prices stand more than $1.12/gallon lower.
Meanwhile, the smallest drops versus a year ago can be found in California, Nevada and Utah, where prices are 33, 49 and 62 cents lower, respectively, than last year.