Crude Oil Hits Low Price Of Month

From the East Penn Region, of AAA East Central, an affiliate of AAA and the Pennsylvania AAA Federation:

According to AAA’s Fuel Gauge Report, crude oil settled down $2.26 at $85.70 per barrel yesterday. This is the lowest settlement price of September.

Crude oil prices declined yesterday as the U.S. dollar strengthened and concerns continued over poor demand for oil and petroleum products. After increasing for 14 consecutive days -- Aug. 23 to Sept. 5 -- amid refinery issues, hurricane concerns and constrained supply due to the changeover from summer-to-winter-blend gasoline, the price of gas at the pump declined for 10 consecutive days and 13 of the last 15. 

The current national average retail price for a gallon of self-serve regular gasoline is $3.580 up 0.7 cents from last month.

In Pennsylvania, today’s average price of self-serve gasoline is $3.612 up 4.2 cents from a month ago and 95.2 cents higher than a year ago.

In the Lehigh Valley, the average price for self- serve regular unleaded gasoline is $3.568 per gallon. That is 7.8 cents higher than a month ago and 93.7 cents higher than a year ago. In the Philadelphia market, the average price for self- serve regular unleaded gasoline is $3.650 per gallon. That is 1.1 cents lower than a month ago and 98.9 cents higher than a year ago.