Tropical Storm Gordon extending most expensive summer at gas pumps in 4 years
Labor Day marked the end of the most expensive summer at the gas pump since 2014, a petroleum analyst said.
Gasoline averaged $2.87 per gallon from Memorial Day to Labor Day, 55 cents higher than 2017, but 71 cents cheaper than 2014, said Patrick DeHaan, head of petroleum analysis for GasBuddy.
“Much of the blame for the summer’s higher gas prices can be blamed on OPEC’s long-term decision to cut oil production to better balance supply and demand, pushing prices higher,” DeHaan said.
And while gas prices normally go down at this time of year, tropical storm Gordon could cause them to move higher before the seasonal down trend emerges, he said.
“We’re carefully watching the storm for possible disruptions to refineries and gas stations, and will continue to do so until hurricane season ends,” DeHaan said.
Gas prices in Pittsburgh are unchanged in the past week, averaging $3.11, according to GasBuddy’s survey of 731 stations. That’s higher than the national average of $2.82, which is down 1.4 cents per gallon since last week.
In Pittsburgh, prices are about 23 cents per gallon higher than a year ago, and 3 cents lower than a month ago.
Nationally, the average is 18.3 cents higher than a year ago, and down 4.4 cents per gallon during the last month.