Gas prices in the Philadelphia market have decreased for the sixth consecutive week, with the average price per gallon of regular falling by 5.1 cents, reaching $3.62 per gallon. This marks a 16.0 cent decrease from a month ago and a significant 45.6 cent drop from the previous year, though it remains the second-highest for this date, only 5 cents higher than in 2021.
Despite these ongoing reductions, the Philadelphia market’s prices still outpace the national average. The national average for a gallon of regular gas is $3.38, which is down by 7.0 cents from the previous week, 32.8 cents from the previous month, and 40.6 cents from the prior year.
Additionally, diesel prices also saw a decrease of 6.6 cents, settling at $4.38 per gallon.
Gas prices in neighboring areas, such as New Jersey and Wilmington, Delaware, have also experienced drops. New Jersey’s prices are now at $3.33 per gallon, down by 2.5 cents, while Wilmington’s gas prices dropped by 7.6 cents to $3.11 per gallon, making it 51 cents cheaper than in the Philadelphia market.
While the national average is the lowest since March, further decreases are expected in the coming weeks as cooler weather contributes to cooler gas prices. Eight states have already reached average gas prices below $3 per gallon, and this trend is anticipated to continue, with many more states likely to follow suit.