Rising supplies expected to increase downward pressure on gas prices, analyst says

The drop in gas prices has sped up, with oil prices coming under more selling pressure alongside wholesale gasoline prices, giving retailers room to pass on the lower prices, an industry analyst said.

“With refinery maintenance wrapping up, we should see supplies start to build in the weeks ahead, just in time for the summer driving season, potentially putting more downward pressure on prices,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “However, while a majority of states saw gas prices drop, some, particularly in the Northeast, have yet to join in thanks to being the last to make the switch to summer gasoline — but relief will be on the way soon in areas that have resisted the fall thus far.”

According to AAA, the national average on Monday was $3.61 per gallon. That’s down about 6 cents from last week but 11 cents more than a month ago. It’s about 58 cents per gallon less than a year ago, when the national average was $4.19 per gallon.

State averages ranged from $3.08 in Mississippi to $4.87 in California, according to AAA.

The average in Pennsylvania was about $3.74 per gallon, according to AAA. That’s about 4 cents per gallon less than last week but about 16 cents higher than a month ago. It’s about 61 cents less than a year ago, when the state average was $4.34.

Across the state, county averages ranged from $3.63 to $3.89 per gallon, according to AAA. The highest averages are concentrated in Southwest Pennsylvania.

County averages in the Pittsburgh area, according to AAA:

• Allegheny: $3.82

• Armstrong: $3.84

• Beaver: $3.80

• Butler: $3.82

• Washington: $3.83

• Westmoreland: $3.82

GasBuddy reported the average in the Pittsburgh area at $3.80 per gallon, based on its survey of 731 stations. That’s about 3 cents less than a week ago, 11 cents more than a month ago and 54 cents less than a year ago.

Prices in the Pittsburgh area range from $3.44 to $3.99 per gallon, a difference of 55 cents per gallon, according to GasBuddy. Statewide, prices range from $3.14 to $4.39, a difference of $1.25 per gallon.

Neighboring areas and their current gas prices:

• Akron: $3.43, down 15 cents from last week.

• Cleveland: $3.49, down 10 cents from last week.

• West Virginia: $3.48, down 5 cents from last week.

The national average price of diesel fell about 5 cents in the past week to $4.07 per gallon, which De Haan said is the lowest in more than 13 months.