Crude Oil Price Increases

According to AAA’s Fuel Gauge Report, West Texas Intermediate crude oil increased Monday. WTI settled at $100.91 per barrel, which was up $2.24 on the day and above $100 per barrel for the first time since January 19.

Crude prices were pressured higher as Greek lawmakers approved austerity measures necessary for the country to receive the second round of bailouts needed avoid defaulting on its debt obligations. 

At a national level, the price of gasoline at the pump has continued to rise. The current national average retail price for a gallon of self-serve regular gasoline is $3.513 up 12.5 cents from last month.

In Pennsylvania, today’s average price of self-serve gasoline is $3.616 up 14.6 cents from a month ago and 44.7 cents higher than a year ago.

In the Lehigh Valley, the average price for self-serve regular unleaded gasoline is $3.615 per gallon which is 15.7 cents higher than a month ago and 45.4 cents higher than a year ago. In the Philadelphia market, the average price for self- serve regular unleaded gasoline is $3.623 per gallon which is 15.4 cents higher than a month ago and 42.3 cents higher than a year ago. 

2/14/2012

WEEK AGO

YEAR AGO

NATIONAL

3.513

3.480

3.126

PENNSYLVANIA

3.616

3.561

3.169

ALLENTOWN/BETHLEHEM/EASTON

3.615

3.557

3.161

PHILADELPHIA 

3.623

3.560

3.200

As North America’s largest motoring and leisure travel organization, AAA provides more than 53 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.