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AAA: Gas Prices Could Drop 50 Cents by Year’s End

Find the cheapest gas in Newtown.

Gas prices dropped, on average, 1.5 cents in Pennsylvania and 1.1 cents in Bucks and Montgomery Counties from a week ago, according to AAA’s Fuel Gauge Report.

The average price of self-serve gasoline is $3.685, down 22.4 cents from a month ago and 21.7 cents higher than a year ago.

After Hurricane Sandy, there continues to be a distribution problem and not a systemic issue with gasoline supplies in New York and New Jersey.  There is plenty of gasoline ready to make its way to stations, but it has to get there first.  Once this distribution gets fully back online, AAA expects pump prices in affected areas to follow the rest of the country lower.

AAA predicts that the national average price will be $3.25 to $3.40 by Thanksgiving and $3.10 to $3.30 by the end of the year.

Locally, the cheapest price for regular is $3.79 at Village Market and the BP on Route 413 (as of Thursday).

If you spotted a better price, tell us in comments.

 

11/13/12

WEEK AGO

YEAR AGO

National

$3.440

$3.463

$3.422

Pennsylvania

$3.636

$3.651

$3.458

Bucks/Montgomery Area

$3.685

$3.696

$3.468

Lehigh Valley

$3.626

$3.593

$3.424

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