Business & Tech

Crude Oil Climbs To Highest Price Since May

In Pennsylvania, today's average price of self-serve gasoline is $3.436 up 9.3 cents from a month ago and 27.6 cents higher than a year ago.

From the East Penn Region of AAA East Central:

According to AAA’s Fuel Gauge Report, on the first trading day of 2012, the price of West Texas Intermediate crude oil rose $4.13 to settle at $102.96, the highest settlement price since May 10, 2011.

A growing global economy is expected to demand more crude oil, which pressures prices higher, as does the possibility of future disruptions to global supply. 

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On an annual average basis, U.S. motorists paid the all-time highest price for gasoline in 2011, $3.51 a gallon surpassing the former all-time record set in 2008. As crude oil prices rose to their highest level in months, the price of gasoline remains near the multi-month low of $3.21 registered on December 21. 

The current national average retail price for a gallon of self-serve regular gasoline is $3.352 up 6.6 cents from last month.

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In Pennsylvania, today’s average price of self-serve gasoline is $3.436 up 9.3 cents from a month ago and 27.6 cents higher than a year ago. In the Lehigh Valley, the average price for self- serve regular unleaded gasoline is $3.393 per gallon. That is 8.4 cents higher than a month ago and 26.7 cents higher than a year ago. In the Philadelphia market, the average price for self- serve regular unleaded gasoline is $3.419 per gallon. That is 6.1 cents higher than a month ago and 23.8 cents higher than a year ago. 

 

1/6/2012

WEEK AGO

YEAR AGO

NATIONAL

3.352

3.269

3.079

PENNSYLVANIA

3.436

3.350

3.160

ALLENTOWN/BETHLEHEM/EASTON

3.393

3.312

3.126

PHILADELPHIA 

3.419

3.341

3.181

As North America’s largest motoring and leisure travel organization, AAA provides more than 52 million members with travel, insurance, financial and automotive-related services. Since its founding in 1902, the not-for-profit, fully tax-paying AAA has been a leader and advocate for the safety and security of all travelers. 

The East Penn Region, of AAA East Central, an affiliate of AAA and the Pennsylvania AAA Federation, has more than 270,000 members throughout its service area which takes in all of Lehigh County, and part of Bucks, Carbon, Chester, Montgomery and Northampton Counties.


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