Decline in gas prices continuing into Labor Day weekend, price tracking service says

Going into the Labor Day weekend, which many mark as the traditional end of summer, gasoline prices are expected to be the lowest since March 3 and 20% less than July 4, price tracking service GasBuddy said.

According to GasBuddy, prices this holiday weekend will continue to fall slightly from summer highs but are still more than 60 cents per gallon higher than last year.

This summer was expected to be the biggest travel season since the pandemic shutdowns of 2020, but soaring gas prices threw a wrench into many Americans’ road trip plans. The national average peaked at about $5.02 on June 14, while Pennsylvania recorded its highest average, $5.07, on June 12.

According to GasBuddy, demand for gas on Independence Day weekend was notably lower than 2021, and seasonal trends are continuing to push demand down for the unofficial close of summer.

After setting new records, prices have been steadily falling, with the streak of declines now at 11 weeks.

“It was a dizzying time as gas prices surged ahead of summer, which caused many Americans to rethink their summer travel plans, only for the longest decline in gas prices since the pandemic to start providing meaningful relief,” said Patrick De Haan, head of petroleum analysis for GasBuddy.

“As the sun sets on summer, gas prices are in far more familiar territory and could continue to decline well into fall, barring major disruptions from hurricanes and the like,” he said.

AAA was reporting the national average at $3.83 per gallon Thursday, down about 5 cents from a week ago.

Nationally, averages ranged from a low of $3.51 in Iowa and Kansas to a high of $5.30 in Hawaii.

Pennsylvania’s average has fallen 11 cents in a week, from about $4.18 on Aug. 25 to $4.07 on Thursday, according to AAA.

County averages range from a low of about $4.02 in Blair, Lebanon, Luzerne and Pike counties to $4.25 in Potter County.

Prices in the Pittsburgh area have continued to fall this week, with declines between 3 and 7 cents per gallon. Some stations have prices at just under $4.

County averages in the Pittsburgh area on Thursday as reported by AAA:

• Allegheny: $4.09, down 5 cents from Monday.

• Armstrong: $4.19 , down 6 cents from Monday.

• Beaver: $4.15, down 5 cents from Monday.

• Butler: $4.13, down 7 cents from Monday.

• Washington: $4.12, down 3 cents from Monday.

• Westmoreland: $4.06, down 6 cents from Monday.