Gas prices drip below $4 average and could continue decline; few county prices at $3.99
The national average price for unleaded gas fell below $4 per gallon this week, crossing a threshold not seen since March.
According to AAA, the average per gallon price is as low as $3.49 in southern states like Texas and Alabama, and as high as $5.39 in California, Alaska and Vermont.
Pennsylvania's average was between $4.16 and $4.36 on Thursday.
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Somerset County joined 10 other Pennsylvania counties in the lowest price range in the state at $4.25 per gallon Thursday.
According to gas tracking website, GasBuddy, a few gas stations in Somerset County sold unleaded for less than $4, including S&S Quick Stop in Rockwood and Goga's Service Station in Cairnbrook.
Most prices around the county were $4.29 or slightly higher on Thursday.
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"Gas prices have declined over $1 per gallon since peaking at $5.03 on June 14, fueled by falling oil prices over the last month," said GasBuddy in a press release. "Americans today will spend nearly $400 million less on gasoline than they did in mid-June."
"Beginning in March, gas prices in the U.S. rose above $4 per gallon for the first time since 2008, as Russia launched its invasion of Ukraine," the company said. "Global supply began to tighten, with demand also rising into the summer, causing inventories to tighten to uncomfortable levels.
"The previous record-high of $4.10 per gallon was broken in April, and gas prices soared to a new all-time high average of $5.03 per gallon in June. Areas of California saw average prices near $7 per gallon this summer, and diesel prices saw their biggest premium to gasoline prices ever."
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Patrick De Haan, head of petroleum analysis at GasBuddy, also blamed COVID-19 for the frequent gas price changes.
"While the recent drop in gas prices has been most welcomed, the issues that led to skyrocketing prices aren’t completely put to bed, and still could lead prices to eventually climb back up, should something unexpected develop.”
"Today’s average is 63 cents less than a month ago and $1.20 more than a year ago," AAA said. "The steady decline is due to low domestic demand for gasoline and oil prices that remain in the mid-$90s per barrel. The price of gas has now fallen every day since hitting a record $5.01 on June 14."
Demand is down by about 800,000 barrels of oil since last year, according to the Energy Information Administration.
AAA said continuing trends with weak demand and a strengthening dollar could push prices even lower in the coming weeks.
This article originally appeared on The Daily American: Gas prices in U.S. hit $4 average, Somerset prices lowering
