Analyst: Gas Prices Likely to Lag Behind Last Year’s Levels

PENNSYLVANIA – Average retail gasoline prices in Pennsylvania have fallen 5.4 cents per gallon in the past week, averaging $3.48 per gallon yesterday, according to GasBuddy’s daily survey of 5,269 gas outlets in Pennsylvania. This compares with the national average that has fallen 1.6 cents per gallon in the last week to $3.50 per gallon, according to gasoline price Web site GasBuddy.com.

Including the change in gas prices in Pennsylvania during the past week, prices yesterday were 43.8 cents per gallon lower than the same day one year ago and are 18.2 cents per gallon lower than a month ago. The national average has decreased 14.5 cents per gallon during the last month and stands 34.7 cents per gallon lower than this day one year ago.

“The slow trend downward in the national average has survived another week,” said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. “While unprecedented, the decline in the national average certainly has delighted motorists who are used to large spikes in gasoline prices that come with the territory of springtime. With Memorial Day just five weeks away, there’s good news for motorists: prices will likely continue to lag behind year ago levels,” DeHaan said.

About GasBuddy

GasBuddy operates PennsylvaniaGasPrices.com and more than 250 similar Web sites that track gasoline prices at more than 140,000 gasoline stations in the United States and Canada. In addition, GasBuddy offers a free smartphone app, which has been downloaded more than 25 million times to help motorists find the lowest gasoline prices in their area.

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