Gasoline prices in the Newtown area ticked downward over the past week.
The price decrease comes as drivers pay higher prices due to geopolitical instability that has caused gas prices to skyrocket.
According to data from AAA Mid-Atlantic, the average price for a gallon of gas in the five-county Philadelphia area now stands at $4.04, a 6-cent decrease from last week.
The statewide average across Pennsylvania remains slightly higher at $4.09.
In the Newtown area, GasBuddy reported a wide range of prices as of Tuesday, with totals ranging between $3.89 and $4.39 per gallon.
While gasoline saw a slight dip, the cost of diesel remains a significant burden for the state’s transport industry.
AAA reported that diesel averaged $6 per gallon in Pennsylvania, a $2 increase compared to this time last year.
Fuel costs have spiked following the onset of conflict between the U.S., Israel, and Iran in late February.
As recent prices have neared record territory, they have yet to surpass the highs set during the summer of 2022 when local prices topped $5 per gallon. Before that peak, the regional inflation-adjusted record had stood since the Great Recession in 2008.
In a Sunday interview with CNN, U.S. Department of Energy Secretary Chris Wright suggested that gas prices may not fall below $3 per gallon until next year.
In comments made to The Hill, President Donald Trump said he disagreed with his cabinet secretary, stating he expects prices to drop once the war ends.
Diplomatic discussions regarding an end to the conflict continued on Tuesday.
“With global oil flows remaining at risk, renewed volatility is taking hold, and the continued back-and-forth is making any lasting resolution increasingly fragile,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
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De Haan said prices could reverse course almost immediately.
“As a result, gasoline prices are likely to rise again in the days ahead, with diesel expected to follow if disruptions persist, and many of the states that exhibit price cycling could see increases in the next 24-48 hours,” De Haan said.
