Gasoline prices are on the rise again
Motorists pay nearly $3 per gallon for regular across region
PHILADELPHIA » The price of gasoline across Pennsylvania has gone up, following several days of inactivity.
Average retail gasoline prices in the Philadelphia region have risen 5.5 cents per gallon in the past week.
According to GasBuddy’s daily survey of 979 gas outlets conducted Sunday, prices were averaging $2.90 per gallon. This compares with the national average that has increased 5.2 cents per gallon in the last week to $2.71 per gallon, according to GasBuddy.com.
In its weekly report, AAA Mid-Atlantic said the increase is the result of ongoing tension in the Middle East offsetting U.S. crude oil production and inventory. AAA expects prices to inch slightly higher as the May 1 deadline to switch over to summer-blend gasoline at the pumps approaches.
“After a week or so of relative stability, gas prices are creeping up nationally and in the Delaware Valley,” Jana L. Tidwell, manager of Public and Government Affairs for AAA Mid-Atlantic said in a press release. “Warmer spring weather, coupled with the uncertain direction of oil prices and the switchover to (more expensive) summer-blend gasoline, will likely send pump prices higher as we approach Memorial Day.”
GasBuddy reported that gas prices in the Philadelphia region April 15 were 27 cents per gallon higher than the same day one year ago and 19 cents per gallon higher than one month ago. By comparison, the national average has increased 18 cents per gallon during the last month and stands 30 cents per gallon higher than one year ago.
According to data found on AAA’s website, the average gas prices across Berks, Chester, Delaware and Montgomery counties are fairly close. Tuesday’s averages were: Berks County, $2.91; Chester County, $2.90; Delaware County, $2.91 and Montgomery County, $2.92.
A snapshot of current prices reported to GasBuddy.com by customers purchasing gas on Tuesday showed they paid prices as high as $2.95 at various stations in all four counties. Some customers encountered a price of $2.99 in Ludwig’s Corner, Chester County and $3.09 at a station in Havertown, Delaware County.
AAA has reported that it expects motorists will see the highest average summer gasoline prices in four years. The summer driving season runs from April through September. The Energy Information Administration forecasts that motorists will pay an average of $2.74 per gallon for regular gasoline during this year’s summer driving season. The forecasted price is 26 cents per gallon higher than the average price last summer, largely reflecting changes in crude oil prices.
For all of 2018, the Energy Information Administration expects U.S. regular gasoline retail prices to average $2.64 per gallon.
“The seasonal surge at gas pumps is in full motion, causing the most dreaded time of year for fearful motorists, especially of what may still be coming,” Patrick DeHaan, head of petroleum analysis for Gas-
Buddy said in a press release. “With the national average gas price now at its highest since July 26, 2015, I can’t immediately allay all fears of a continued spike in gas prices, however, we’re likely in the closing innings of the seasonal rise.”
DeHaan added that gas prices typically peak by mid-May.
“Refinery maintenance has gone well thus far, and gasoline supply has continued to push higher as more refiners conclude their work. With the transition to summer gasoline also wrapping up, the reasons (that cause) gas prices to rise will shrink,” he said.