Motorists still facing pinch at pump, despite price decrease
Drivers in Southwestern Pennsylvania are getting a small break at the gas pump this week.
The average price for a gallon of gasoline in the region fell six cents, bringing the average cost to $4.577 per gallon, according to AAA East Central’s latest Gas Price Report.
Even though the national average dropped a penny to $4.36, pump prices remain at historic highs for the season.
It is the first October on record with the national average remaining above $4, according to AAA.
“Gas prices remain the highest they’ve ever been for this time of year. Even though the national average dropped five cents this past week to $4.36, pump prices remain at record highs for autumn,” AAA said.
A year ago the national average was $3.12 a gallon, and a month ago it was $4.15.
According to AAA, gas prices usually decrease in the fall, with lower demand after the summer travel season and the switch to the less expensive winter blend, but AAA said fluctuating oil prices continue to play a major role in fuel costs.
After briefly falling into the $80-per-barrel range, crude oil prices climbed back above $90 per barrel in recent weeks.
Patrick De Haan, head of petroleum analysis at GasBuddy, said Monday in a statement, “On the policy front, the Trump administration’s proposed diesel deal raises more questions than it answers, and I remain skeptical that it will deliver significant relief to the trucking industry and consumers who depend on diesel.”
The cost of diesel has a major effect on farmers, trucking and consumer goods prices. According to AAA, in Pennsylvania, the average price for diesel on Oct. 12 was $6.54 a gallon in Pennsylvania. A year ago it was $3.98 a gallon.
On Oct. 9, President Donald Trump announced an agreement with Russia to release millions of tons of diesel fuel to global markets and temporarily eased U.S. restrictions on Russian diesel sales, saying the move will help bring down fuel costs for farmers, truckers and consumers.
De Haan also said that while Hurricane Isaias has passed, “we are awaiting updates on two refineries that were in its path, the outcome of which could impact the supply picture in the days ahead. For now, the trend is cautiously in the right direction for motorists, but between hurricane season and continued geopolitical uncertainty, it is far too early to declare the pressure on fuel prices resolved.”