If nothing changes, the nation could see gas prices fall back to $4.75 a gallon by the Fourth of July holiday.
“Finally some relief! For the first time in nine weeks, gasoline prices have fallen, following a broad sell-off in oil markets last week, pushing the national average back under the $5 level with most states seeing relief at the pump,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
“I’m hopeful the trend may continue this week, especially as concerns appear to be mounting that we may be on the cusp of an economic slowdown, putting downward pressure on oil. But the coast isn’t yet entirely clear.
We could see the national average fall another 15 to 30 cents, if we’re lucky, by the time fireworks are flying, barring any unexpected shutdowns at a time when the market is extremely sensitive to such.”
De Haan said on Twitter yesterday, “No one should be in a rush to fill their gas tank- prices in most areas of the US will be coming down in the days and weeks ahead (things could shift, so stay tuned), but we could drop back to a national average of $4.75-$4.85/gal by July 4 if nothing changes!”
The national average price for gas today is $4.96 a gallon, according to AAA, and $4.97 a gallon, according to GasBuddy.
The average price in Pa. today is $5.01 a gallon, according to AAA - 5 cents lower than a week ago.
The average price in the Harrisburg area today is $4.98 a gallon, according to GasBuddy. That price is 27.5 cents higher than a month ago and $1.89 higher than a year ago.
The lowest price being reported today by users of the GasBuddy app, was $4.78 a gallon at Sam’s Club in Swatara Twp. and $4.79 a gallon at Costco in Lower Paxton Twp. and BJ’s Wholesale Club in Lower Allen Twp.
©2022 Advance Local Media LLC. Visit pennlive.com. Distributed by Tribune Content Agency, LLC.