Gas Prices Dip in Greater Philadelphia Area Amid Steady National Trend

gasoline pump© Mark Hatfield / Getty Images / Canva

GREATER PHILADELPHIA — In a week marked by the aftermath of Hurricane Idalia and the Labor Day weekend, gasoline prices in the Greater Philadelphia area have bucked the trend of hurricane-induced spikes. According to data from AAA, compiled by Stacker, gas prices have experienced a slight decrease over the past week.

The current price for a gallon of gas in Philadelphia is $3.88, a drop of 0.9% (-$0.03) from last week. This marks a year-on-year decrease of 3.0% (-$0.12), as prices now match those of September 2022 when they were coming down from highs influenced by the conflict in Ukraine.

Despite the decrease in prices, the cost of gasoline in Philadelphia remains higher than the state average of $3.86. The historical high for gas prices in the city was recorded on June 12, 2022, at $5.12 per gallon

While gasoline prices have gone down, diesel prices have seen an increase over the past week. Diesel now costs $4.73 per gallon, up 2.0% (+$0.10) from last week. Despite this recent increase, diesel prices are down 9.7% (-$0.51) compared to the same time last year. The most expensive diesel price in Philadelphia’s history was $6.51 per gallon on May 21, 2022.

Nationally, gas prices are down slightly on average, mirroring the trend in Philadelphia. However, certain metropolitan areas have significantly higher gas prices. San Luis Obispo-Atascadero-Paso Robles, CA tops the list at $5.57 per gallon, followed by Napa, CA at $5.42, and Los Angeles-Long Beach, CA at $5.40. In contrast, Monroe, LA boasts the least expensive gas at $3.19 per gallon.

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As we move into the fall season, prices are expected to remain stable or see a slight increase due to oil production cuts by the Organization of the Petroleum Exporting Countries (OPEC) extending into October. However, the exact impact on local and national gas prices remains to be seen.

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