Sep 20, 2024, 5:19 PM
Sep 20, 2024, 5:19 PM

Gas prices drop to 3-year low in Philadelphia region

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Highlights
  • Gas prices in Delaware have decreased by $0.70 per gallon compared to last year, reaching their lowest levels since 2021.
  • The drop in prices has attracted many Pennsylvania residents to Delaware gas stations, seeking to take advantage of the lower costs.
  • Experts predict that gas prices may continue to decline through the fall and winter, but could rise again in the spring of 2024.
Story

Gas prices in the Philadelphia region have significantly decreased, with Delaware experiencing a drop of $0.70 per gallon compared to last year. This decline has led to increased traffic at gas stations, particularly from Pennsylvania residents seeking lower prices. Experts attribute the price drop to global economic factors rather than local political influences, emphasizing that the situation is part of a broader trend affecting gas prices worldwide. Patrick De Haan from GasBuddy predicts that prices may continue to fall through the fall and winter months, potentially reaching their lowest point between Thanksgiving and Christmas. However, he cautions that geopolitical events, such as conflicts in the Middle East or natural disasters like hurricanes, could disrupt this trend. Looking ahead, De Haan anticipates that gas prices may rise again in the spring of 2024 as travel increases with the warmer weather, regardless of the outcome of the upcoming presidential election.

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