Gas prices in Philadelphia have dropped for the fourth consecutive week, providing some relief for consumers. The average cost of a gallon of unleaded regular has fallen by 4.7 cents, though not as significantly as in previous weeks. It now stands at $3.71 per gallon, which is 22.8 cents lower than a month ago and 19.5 cents less than a year ago. However, it remains the second-highest price for October 16th in the past 13 years.
Nationally, the average gasoline price has decreased by 11.3 cents per gallon to $3.55, marking a 29.9 cent drop from a month ago and a 30.9 cent reduction compared to the previous year. Diesel prices also dropped, down 6.8 cents per gallon to $4.41.
While prices are declining, gassing up in neighboring states is considerably cheaper than in Philadelphia, with New Jersey at $3.43 per gallon (down 7.8 cents) and Wilmington at $3.13 per gallon (down 14.6 cents). This price gap highlights the significant savings of up to 58 cents per gallon for those willing to cross state lines.
Experts predict further price decreases but caution that unforeseen events, such as Middle East conflicts, could impact the trajectory of gas prices in the near future.