The average price for a gallon of regular gasoline in Lehigh County has fallen below $4 per gallon, according to the latest pump price survey from AAA.
Northampton’s average remains at $4.04 per gallon, giving the Lehigh Valley a regional average of $4.02, down 15 cents over the past week. That’s more than double the 7-cent drop the national average has seen over the past week; it’s currently at $4.09, after having risen 9 cents the week before.
The automobile association credits the decrease to the two-week ceasefire announced between the U.S. and Iran, and the possibility that it may be extended. “The price for a barrel of crude oil has continued to trade below $100. However, maritime traffic transiting the Strait of Hormuz remains subdued as regional tensions persist and negotiations continue,” AAA said in a news release.
The map below shows the average in every state and the District of Columbia.
Pennsylvania traded places with Florida, which is again the most expensive state to fill your tank on the Eastern seaboard, coming in at 12th nationwide. Pennsylvania is 13th, more expensive than all of its neighbors. The state average is $4.12 as of Thursday morning, like the national average, dropping 7 cents in a week. But that still leaves the state 3 cents higher than the national average. The most expensive states are all on the West Coast.
Prices in the East Stroudsburg area also dropped dramatically over the past week, falling 17 cents to $4.04, two cents higher than the Allentown area. Prices statewide range from $3.81 in Montour County to $4.33 in Mifflin County. Reading is the most expensive place to fill up in the region, currently averaging $4.14 per gallon of regular.
The statewide average in New Jersey is $3.99, 13 cents lower than Pennsylvania’s average. Warren County’s $3.92 average is 11 cents cheaper than Northampton County’s latest price, and the lowest in the Garden State. Cape May retains the notoriety of being the most expensive county in New Jersey.
The difference in prices translates into $60.24 to buy 15 gallons of gas in the Lehigh Valley, a $2.25 savings compared with last week. That’s still $12.11 higher than it was a year ago.
The latest closing prices for crude oil, as tracked by Business Insider, show that a barrel of Brent crude, the standard tracked for international markets, has remained below $100 per barrel since April 8. The price of West Texas Intermediate, the standard used for the U.S. market, has also remained below $100 since April 8, but is even cheaper than Brent, closing Wednesday night at $91.40 per barrel, compared with $94.87 for Brent.