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How Far Will Gas Prices Drop?

AAA says prices are the lowest they've been since January.

 

Gas prices have fallen below $3.50 a gallon for the first time since January, AAA Mid-Atlantic reported this week.

“Not since late-January of this year have we seen gas prices in the Philadelphia area below the $3.50 per gallon mark,” said Jenny M. Robinson, Manager of Public and Government Affairs for AAA Mid-Atlantic.  “Now that crude oil has settled in the $80 range, down from triple-digit highs this spring, gas prices are shifting downward as well. Analysts believe the recent drop in prices will likely last through the summer months and could potentially drop to the $3 to $3.25-per-gallon range in some areas.”

It was $3.26 per gallon as of 8:30 p.m. Thursday along Main Street in Macungie.

According to the release, the average price for gas in the greater Philadelphia region fell 6 cents last week, following a drop of 27 cents from the previous month. The price is also 27 cents cheaper than the same time last year.

The price for a gallon of unleaded gasoline is hovering around $3.51 nationally, while averaging $3.43 in Pennsylvania, $3.33 in South Jersey, and $3.37 in Delaware.

“Motorists have undoubtedly felt the pain at the pump this year,” Robinson noted.  “So downward movement in gas prices, definitely makes a difference for most people.”

Related Topics: Gas Prices, Motorists, and price per gallon

Carl W

11:58 am on Saturday, June 23, 2012

Think Dent & Company will EVER give up his Big Oil pay & perks, & actually work in our interests?

That's why he's got to go!!!

Reply

Carl W

4:22 am on Sunday, June 24, 2012

Clinton Administration, w/ Democratic majority in Congress: Gas was $1.57 a gallon.

Reply

amanda

1:17 am on Monday, June 25, 2012

gas prices are 2.85 in SC... we can thank the gas tax for the reason we pay so much...

Reply

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