Gas prices decline for 20th straight day

Posted: July 19, 2014

Here's a losing streak many motorists will embrace:

The national average gasoline price has fallen for 20 consecutive days, to $3.583 a gallon, 9.7 cents below the price three weeks ago, according to GasBuddy.com. The current price is the lowest since April 8 when it was $3.580 per gallon.

The average gallon price in the Philadelphia region was $3.718 Thursday afternoon, and $3.466 in South Jersey, according to prices posted on the GasBuddy site.

Crude oil prices soared last month to $107 a barrel amid supply concerns caused by the Iraq conflicts, but the price has drifted lower as unrest subsided and oil exports remained unaffected.

The gasoline pump price losing streak may soon be broken. The price of oil surged to near $103 a barrel Thursday after a report showed a larger-than-expected drop in U.S. crude-oil inventories.

amaykuth@phillynews.com

215-854-2947 @maykuth

comments powered by Disqus
|
|
|
|
|