Area gas prices fall slightly
Susquehanna Valley gas prices fell slightly to $3.73 a gallon this week, according to AAA East Central.
On the National Front
The national average price for regular unleaded gasoline was $3.65 per gallon Tuesday. This time last year, consumers were paying two cents less at the pump ($3.63), and the national average was beginning to trend downward toward the summer low of $3.47 (July 7, 2013).
The price at the pump in 35 states has remained relatively stable (+/- 2 cents) over the past seven days, and only two states are posting fluctuations of more than a nickel, both to the downside: Kentucky (-6 cents), and Ohio (-12 cents). Motorists in 31 states are paying a year-over-year premium, and of this total more than half are paying an additional 10 cents or more per gallon, led by Pennsylvania (+25 cents), Nevada (+21 cents), South Carolina (+19 cents).
Market watchers continue to monitor the ongoing unrest in Libya and Ukraine, and its impact on global crude prices. Additionally, the Organization of the Petroleum Exporting Countries (OPEC) has a meeting scheduled for this week and the proceedings will be closely monitored to see if there are any indications that production levels will be adjusted in the near future.
At the close of formal trading on the NYMEX on Monday, West Texas Intermediate (WTI) crude oil settled $1.75 higher at $104.41 per barrel, which is the highest settlement since March 3.
(AAA East Central - a not-for-profit association with 82 local offices in Pennsylvania, West Virginia, Ohio, New York and Kentucky servicing 2.7 million members - provides Fuel Gauge each week.)
This week's Susquehanna Valley average price - $3.728
Average price during the week of June 2, 2014 - $3.754
Average price during the week of June 11, 2013 - $3.453
The following is a list of the average price of unleaded self-serve gasoline in various areas: