Gas prices in the Philadelphia region are falling — and if that trend continues, the price could soon dip below $3 a gallon at some stations.
GasBuddy is reporting prices as low as $3.05 this morning in Woodbury, Gloucester County. Gas can be found for $3.11 at other stations in South Jersey, and as low as $3.28 in the Pennsylvania suburbs and $3.29 in Northeast Philadelphia.
The average price for a gallon of regular gasoline in the Philadelphia area is $3.46 in Pennsylvania and $3.24 in New Jersey, according to AAA.
WASHINGTON – The average price of a gallon of regular gasoline has jumped 45 cents in the past 31 days, according to AAA, the fastest run-up since 2005.
Retail gasoline prices have climbed for 33 days in a row. A month ago, a gallon of regular gasoline cost $3.30; on Tuesday it stood at $3.75 nationwide.
Gasoline prices have risen to within a nickel of $4 a gallon in the District of Columbia as pump prices nationwide have been marching higher – the result of refinery closures and maintenance, lower oil production by Saudi Arabia, market anxiety about tensions in Iran and Iraq, and guarded optimism about the prospects for economic recovery in the United States, Europe and China.
Gov. Tom Corbett struck a populist note in this week’s budget address, saying lifting the Oil Company Franchise Tax cap would force oil and gas companies to “pay their fair share.” But the increase will likely be passed onto consumers at the pump and may make Pennsylvania gasoline the most heavily taxed in the nation.
As levied now, the tax is about 9 percent of the price of a gallon of gas, but calculated on a maximum price of $1.25 per gallon, yielding about 20.3 cents. By gradually lifting that cap over time to reflect actual gas prices – already more than double the cap – the amount of the tax paid per gallon could more than double.
Gov. Corbett tried to soften the blow by cutting another state tax on fuel, the excise tax, from 12 cents down to 10 cents.
This map shows the incorporated areas in Los Angeles County, California. Torrance is highlighted in red. I created it in Inkscape using data from the Los Angeles County Website (Los Angeles County Incorporated Area and District Map (PDF). (Photo credit: Wikipedia)
California’s average gasoline price set a record Saturday of $4.614 for a gallon of regular, up 12.8 cents overnight – but anyone who filled up in the last few days probably isn’t surprised.
Gasoline prices skyrocketed after the Exxon Mobile refinery in Torrance was knocked offline Monday by a power outage. Other lingering refinery and pipeline problems also contributed to the soaring costs at the pump.
American motorists have seen the national average for a gallon of regular gasoline rise above $3.50 a gallon on just three occasions, but it has never happened this early in the year. Analysts say it’s likely a sign that pain at the pump will rise to some of the highest levels ever seen later this year.
In 2008, average gasoline prices had hit inflation-adjusted records nationally by the summer, but they didn’t climb above $3.50 a gallon across the U.S. that year until April 21, according to the AAA Fuel Gauge Report. It happened again last year, but not until March 6.
But $3.50 a gallon gasoline is already here in 2012, weeks before refineries typically shut down for springtime maintenance, and weeks before the states switch from their less expensive winter blends of gasoline to more complicated and pricier summer blends.
So it would seem because the economy has improved, albeit very little, and we all spent a few extra dollars on Christmas presents – GREEN LIGHT - it’s okay a gouge us at the gas pump. Some mumbling about commodities, the dollar is worthless, gas supplies are good and all that rot. So bend over America!
Gas prices have risen nationally, 16 cents over last month and 46 cents over last year! The price of a gallon of regular unleaded gas is $3.05 (national average).
Many people are only doing absolutely necessary driving, me included! This is highway robbery! Time for another boycott! Seems if we don’t buy anything, the price of gasoline will come back down following this logic!