Gas prices down three cents in region
Susquehanna Valley gas prices fell about three cents to $3.70 a gallon this week, according to AAA East Central.
On the national front
The national average price of gas has stopped increasing as we approach the Independence Day holiday, though prices remains at a six-year high for this time of year. Tuesday's national average for regular unleaded gasoline is $3.67 per gallon. The price has remained relatively stable over the past seven days, and the current price is about the same as a month ago.
Consumers have seen little fluctuation in the national average for the month of June; however the current price at the pump is 19 cents more than at this time last year ($3.49). In comparison to previous Independence Day holidays, motorists will face prices that are the highest since 2008, with today's average ($3.68) surpassing the holiday's price per gallon from: 2013 ($3.48); 2012 ($3.34); 2011 ($3.57); 2010 ($2.74); and 2009 ($2.62).
The situation in Iraq continues to put pressure on global oil prices, as markets weigh the potential for supply disruptions from OPEC's second largest producer. These elevated oil prices have meant stubbornly high retail gasoline prices for motorists.
At the close of formal trading on the NYMEX on Monday, West Texas Intermediate (WTI) crude oil settled 37 cents lower at $105.37.
(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 - $3.697
Average price during the week of June 24, 2014 - $3.733
Average price during the week of July 2, 2013 - $3.464
The following is a list of the average price of unleaded self-serve gasoline in various areas:
Lewisburg - $3.613
Mifflinburg - $3.759
Milton - $3.650
Selinsgrove - $3.702
Shamokin - $3.760
Sunbury - $3.698