FUEL GAUGE: Gas prices continue to fall locally
Susquehanna Valley gas prices continue to fall, going down another three cents to $3.44 a gallon, according to AAA East Central's Fuel Gauge report.
AAA East Central surveys 35 gas stations in the Susquehanna area for its report. The lowest price was in the Lewisburg area at $3.30 and the highest price was in Mifflinburg at $3.54.
The average price for unleaded regular gasoline in Pennsylvania was $3.55.
On the national front
The national average price for regular unleaded gasoline has continued its downward trend despite high-profile conflicts in overseas oil producing countries and declining domestic refinery production. Today's price is $3.47 per gallon, which is about two cents less than one week ago, 15 cents less than one month ago and seven cents less than the same date last year.
The falling national average is largely mirrored at the state level, where drivers in all but a handful of states are paying less at the pump over the last few weeks. Consumers in Hawaii ($4.32), Alaska ($4.10) and California ($3.91) continue to pay the highest prices per gallon.
Last week, President Obama announced that the U.S. would begin airstrikes in Iraq in response to the continuing escalation of violence by the group known as ISIL (Islamic State of Iraq and Levant). Iraq is the world's seventh-largest oil producer and a disruption in production could impact the global supply. Tensions between Russia and Ukraine, and the situation Libya are being monitored but have not resulted in a disruption to supply.
Oil prices, meanwhile, continue to trade near multi-month lows. The price of West Texas Intermediate (WTI) settled 43 cents higher at $98.08 per barrel at the close of formal trading Monday.
(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.)