Gas Price Dips Below $2 In PA, Norristown: AAA

PHILADELPHIA, PA – Pennsylvania has officially joined New Jersey, Delaware and other surrounding states in the club of “under $2” gas prices, AAA announced on Saturday.

This is the first time since July, 2004 that the state average price for a gallon of gas has cost less than $2.

While many areas in the state have already seen the drop to sub-$2 per gallon prices in the past few weeks, the state gas price average is now officially below the $2 mark.

Today’s average price for regular grade, self-service gasoline in Pennsylvania is $1.99 per gallon, down four cents in the last week, down 18 cents from a month ago, and 25 cents below prices this time last year, according to AAA.

The last time the state’s average gas price dropped below $2 per gallon was July 20, 2004. The Philadelphia region is close behind, with today’s average in the 5-county area at $2.01.

“Motorists in Pennsylvania are undoubtedly happy to see gas prices drop below the $2 per gallon mark for the first time in more than 11 years,” said Jana L. Tidwell, Manager of Public and Government Affairs for AAA Mid-Atlantic, in a press release. “The key driver pushing prices at the pump lower has been the price of crude oil, which has dropped to the lowest level in more than a decade.”

In Pennsylvania, the lowest average gas total in history was December 18, 2001, when it cost $1.07 per gallon. The highest average in the Keystone State of $4.07 came in July 2008.

Nationally, gas dipped below $2 on January 1.

AAA states that although crude oil is not the only contributing factor, as long as the commodity continues to trade at these levels or lower, gas prices should remain relatively steady or perhaps drop a bit further. Demand for gasoline typically falls during the winter months, due to cold and often snowy weather, which also contributes to lower gas prices at this time of year. AAA believes consumer savings should continue in 2016 and the national average price is expected to remain below $3 per gallon in 2016.

AAA anticipates retail averages are likely to increase leading up to the summer driving season as seasonal refinery maintenance gets underway this spring.

Unless there are unexpected developments, gasoline should remain at this relatively inexpensive level this winter due to lower demand and typical seasonal trends.

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