The average price for a gallon of gasoline has dipped back below $5 in Pennsylvania, according to AAA.
The state’s average fell from $5 on Thursday to $4.98 on Friday, AAA reported. The average has come down 6 cents per gallon in the past week.
The average cost has been coming down since June 12, when it peaked at a record high of $5.07.
The current average is about 21 cents higher than it was a month ago and $1.81 more than a year ago, according to AAA.
Averages in Southwestern Pennsylvania counties are on both sides of the $5 line:
• Armstrong: $5.03
• Allegheny: $4.99
• Beaver: $5
• Butler: $5
• Washington: $5
• Westmoreland: $4.99
The national average is about 6 cents per gallon lower than the Pennsylvania average at $4.93, according to AAA. It peaked at $5.02 on June 14.
Decreasing demand for gas and the falling cost of oil are contributing to price decreases, AAA reported.
Gas prices are expected to drop 10 to 20 cents per gallon by the Fourth of July, according to GasBuddy. Despite that, drivers will be facing the most expensive Independence Day at the pump ever this year.
“While we may see relief as we approach July 4, and potentially after, the volatility in markets remains high,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “We still could see a super spike in gas prices later this summer, should a hurricane threaten Gulf Coast oil refineries or oil platforms. Motorists should know that while we may see small relief today, risks remain that prices could go up at a moment’s notice and set new records again.”
President Joe Biden’s announcement Wednesday of his desire to halt the federal gas tax for three months could lead to an 18.4 cent decline in gas prices. If the tax is suspended, American drivers collectively would save about $70 million per day while the average motorist saves $25 to $70 over three months, according to GasBuddy.
