Philly market gets 2nd week of declines
The average price of unleaded regular in the Philadelphia market has fallen two weeks in a row.
The latest drop of 8.1 cents comes after a 6.6 cent drop a week earlier. The latest average price was $3.53 per gallon, GasBuddy said Monday.
Prices in the Philadelphia market are 4.3 cents per gallon higher than a month ago and 20.6 cents per gallon lower than a year ago, Gas Buddy said.
The national average price of gasoline was down 7.3 cents per gallon in the last week to $3.37. The national average is up 10.9 cents per gallon from a month ago and 10.2 cents per gallon lower than a year ago, Gas Buddy said.
The national average price of diesel fell 7.3 cents in the past week to $4.53 per gallon, the lowest level since March 5. The falling prices of diesel might help ease the prices of goods.
In the Philly market, $3.53 per gallon was tied for third highest for any Feb. 13 in the past 10 years.
As nearly always, gas is cheaper over the state line: 22 cents cheaper in Trenton, New Jersey, at $3.31 per gallon and 31 cents per gallon cheaper down the line in Wilmington, Delaware.
“For a second straight week, the national average price of gasoline has declined, alongside the price of diesel which has fallen to its lowest level in nearly a year,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “While diesel prices likely have a long way to fall as inventories continue to improve, gasoline prices in some areas have gone up in the last weeks as the transition to summer gasoline is just around the corner. In addition, GasBuddy data shows that gasoline demand has risen for the third straight week, a trend that will likely continue as we gradually see temperatures warm and the heart of winter moves to the rear view. Also, refinery maintenance season will soon be in full force, likely putting upward pressure on prices. On average, gasoline prices rise 35 to 85 cents per gallon between March and Memorial Day, so motorists seeing prices fall should enjoy the declines while they last.”