Gas prices drop again in Susquehanna Valley
Susquehanna Valley gas prices continued to decline this week, dropping more than nine cents to $3.691 per gallon.
Today's national average price for a gallon of regular gasoline is $3.69. This price is a penny less than one week ago, two cents less expensive than one month ago and 15 cents less than the average price one year ago.
As the national average price at the pump has drifted lower, motorists across the country have experienced varying degrees of price relief. Drivers in 28 states pay less than one month ago. While the recent price movement has varied by state, the year-over-year savings have been nearly universal. Motorists in almost every state pay less than the same day last year. Pennsylvania gas prices are down almost 12 cents year-over-year.
After declining during the second half of February, West Texas Intermediate (WTI) crude oil prices have posted slight gains in recent weeks on positive economic news. Crude oil futures are priced in U.S. dollars. When economies weaken overseas, the dollar strengthens and the price of oil becomes relatively more expensive. While the value of the U.S. dollar did rise today, WTI futures managed to eek out a gain as well on Monday, settling 29 cents higher at $93.74 at the close of formal trading on the NYMEX.
This week's Susquehanna Valley average price - $3.691
Average price during the week of March 12, 2013 - $3.782
The following is a list of the average price of unleaded self-serve gasoline in various areas (as of Tuesday morning):
Lewisburg - $3.623
Mifflinburg - $3.690
Milton - $3.693
Selinsgrove - $3.697
Shamokin - $3.748
Sunbury - $3.695
(AAA East Central, part of the AAA family, serves members in Pennsylvania, West Virginia, Ohio, New York and Kentucky. Fuel Gauge is published each week in The News-Item.)