Jana Tidwell
Public Relations Manager, PA
O: (302) 299-4426
C: (302) 353-6563
jtidwell@aaamidatlantic.com

Kathleen Zinszer
Sr. Public Aff. Specialist, PA/DE
O: (302) 299-4168
C: (610) 291-7312
KZinszer@aaamidatlantic.com

AAA Mid-Atlantic: Philadelphia Drivers Wash Their Hands of Gas Prices over $2.50 

PHILADELPHIA, PA (March 16, 2020) According to AAA Gas Prices, drivers in the Philadelphia 5-county region are paying less than $2.50 at the pump. The last time the gas average was below $2.50 was mid-February of 2019. The local downward trend mirrors the drop seen in the national gas price average which has been largely influenced by falling crude prices as the result of a corona-driven drop in global demand and the oil price war between Saudi Arabia and Russia.

The national average for a gallon of regular unleaded is now $2.25, down 13 cents over the past week, 19 cents in a month and 29 cents less than last year at this same time.

CURRENT AND PAST GAS PRICE AVERAGES
Regular Unleaded Gasoline (*indicates record high) 

3/16/20

Week Ago

Year Ago

Last Date at $2.50/Gallon

National

$2.25

$2.38

$2.54

$2.50 – 1/28/2020

Pennsylvania

$2.46

$2.57

$2.74

$2.50 – 2/13/2019

Philadelphia

(5-county)

$2.49

$2.56

$2.71

$2.51 – 2/17/2019

South Jersey

$2.28

$2.33

$2.52

$2.50 – 1/23/2020

Delaware

$2.14

$2.24

$2.43

$2.52 – 8/1/2019

Philadelphia Five-County Gas Price Averages (as of 3/16/20):

Bucks – $2.51
Chester - $2.45
Delaware - $2.43
Montgomery - $2.49
Philadelphia - $2.52

“Pump prices continue to decline as the global economy faces significant downward pressure from COVID-19 fears and the ongoing crude price war,” says Jana L. Tidwell, manager of Public and Government Affairs for AAA Mid-Atlantic. “Gas prices usually increase in the spring due to an increase in demand and lower supply, but this year drivers could continue to see lower prices.”

In addition to virus fears, an oil price war between Russia and Saudi Arabia has added to market concerns as both countries announced efforts this week to increase crude exports while global crude demand is forecasted to decline due to COVID-19. Dumping cheap crude oil into the frenzied global market could help both countries gain individual market share, but the reduced price for oil has forced domestic energy companies to slash budgets and investments.

 

AAA has a variety of resources to help motorists save on fuel:

AAA is the most comprehensive resource for gas prices. Unlike the Lundberg Survey of 7,000 gas stations, AAA reports reflect actual prices from credit card transactions at more than 100,000 gas stations in the U.S.  
Follow us on Twitter: @AAAPhillyNews

AAA provides automotive, travel and insurance services to 60 million members nationwide and more than 3.2 million members in Pennsylvania.  AAA advocates for the safety and mobility of its members and has been committed to outstanding road service for more than 100 years.  The not-for-profit, fully tax-paying member organization works on behalf of motorists, who can now map a route, find local gas prices, discover discounts, book a hotel and track their roadside assistance service with the AAA Mobile appss for iPhone, iPad and Android.  For more information, visit www.AAA.com.

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