Keystone Today

Gas prices started to decrease slightly across the U.S. over the past few weeks due to declining crude oil prices and a decrease in Americans’ demand for gas.

Pennsylvania's current average price per gallon is reported at $4.61‚ $1.36 higher than this time last year. The latest Gasoline Misery Index shows that Pennsylvanians will spend an average of $606 more on gas this year than they did last year. 

“Global economic headwinds are pushing oil prices lower, and less expensive oil leads to lower pump prices,” American Automobile Association (AAA) spokesperson Andrew Gross said in a recent press release. “And here at home, people are fueling up less, despite this being the height of the traditional summer driving season.”

The index uses different data from AAA, the U.S. Department of Energy and MetroMile.com to track the average price per gallon of regular gasoline, and adjusts using the average miles traveled by the average miles per gallon of American cars. It also compares how much the average consumer pays for gas on an annualized basis.

AAA reported Thursday that gas demand increased from 8.06 million b/d to 8.52 million b/d last week, citing the latest data from the Energy Information Administration (EIA). 

Yet, the rate is 800,000 b/d lower than last year, and is in-line with demand during the middle of July 2020, when COVID-19 measures curbed demand. If these current trends hold, AAA predicts drivers will continue to see a temporary relief in pump prices.

According to the EIA data, the national average price per gallon of gasoline was $2.33 in January 2021. When compared to Friday's national average price of $4.41, gas prices increased 89.3%. 

A number gasolinemiseryindex.com called the "Biden Misery Index," Americans are spending an average of $1,092 more per year on gasoline since the president entered office in January 2021.

With the goal of bringing down gas prices for consumers, President Joe Biden announced the use of Strategic Petroleum Reserve (SPR) crude oil on March 31. Since its release, data shows the president has reduced the SPR by nearly 85 million barrels of the country's emergency oil. 

"Beginning his first day in office, President Biden has been hamstringing fossil fuel producers," Mark R. Robeck, deputy general counsel for energy policy for the U.S. Department of Energy, said in a RealClear Energy article.

"The Administration canceled the Keystone XL pipeline, suspended new offshore lease sales in Alaska and the Gulf, reduced acreage available for federal leasing, and imposed burdensome regulations on new energy production and infrastructure."

Robeck said that Biden's 180 million barrel release from the SPR "only reduces national security, but not gasoline prices."