The average price of regular in the Philadelphia market is ending January the way it started the month: heading down. Those price changes, plus prices in the region and nationally from GasBuddy at close of business Sunday:
• $2.88 per gallon average for regular in the market, down 0.9 cent in the past week.
• 9.8 cents per gallon lower than a month ago and 36.0 cents lower than a year ago.
• $2.62 per gallon is cheapest station in the market, unchanged in a week.
• GasBuddy price locater to compare: www.gasbuddy.com/gasprices/pennsylvania/philadelphia.
• Fifth most expensive for the date behind 2023, 2022, 2024 and 2025.
• New Jersey: $2.74 per gallon, unchanged in the past week.
• Wilmington: $2.92 per gallon, up 2.3 cents in the past week.
• $2.84 per gallon average nationally, up 7.3 cents in the past week.
• $3.54 per gallon, average price of diesel nationally, up 4.0 cents in the past week.
“Average gasoline prices have jumped for a second straight week as oil prices have climbed back above the $60-per-barrel mark amid ongoing geopolitical tensions,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “New sanctions on Iran’s oil are making it more difficult for those barrels to reach the market, tightening supply, while the major winter storm that sent temperatures plunging is also likely to impact refineries, causing disruptions and reduced output. Diesel prices have jumped as colder weather boosts demand for heating oil, a combination that could keep both gasoline and diesel prices moving higher in the week ahead.”