AAA Mid-Atlantic: The Gas Gift that Keeps on Giving

The Week

Drivers, both locally and across the country continue to have a December to remember at the gas pump, as prices decline for yet another week, ahead of one of the most traveled holidays of the year. Across the Wilkes-Barre region, prices are between five and 15 cents lower today than they were on Christmas Day 2017. Lower oil prices are helping drive gas prices lower again this week, losing more than $5 since last week. 

Today’s national gas price average is $2.35, which is down four cents in the last week, down 25 cents in the last month, and is nine cents less than this time last year.

CURRENT AND PAST GAS PRICE AVERAGES
Regular Unleaded Gasoline (*indicates record high)

	12/21/18	Week Ago	Year Ago	Christmas Day 2017
National	$2.35	$2.39	$2.44	$2.44
Pennsylvania	$2.58	$2.62	$2.70	$2.69
Wilkes-Barre	$2.60	$2.64	$2.68	$2.69
Bloomsburg	$2.58	$2.64	$2.72	$2.72
Crude Oil	$45.59 per barrel (Fri. 12/21/18 close)	$51.20 per barrel (Fri. 12/14/18 close)	$56.41 per barrel (12/22/17)

At the close of NYMEX trading Friday, West Texas Intermediate (WTI) crude oil settled at $45.59 per barrel, $5.61 lower than last Friday. Prices reached a 17-month low this week as concerns over the remaining oversupply of oil affected the market. A slowed outlook on the economy and energy demand, coupled with an increase in rates from the U.S. Federal Reserve didn’t help matters. OPEC and other oil producing countries like Russia agreed this month to cut 1.2 million barrels per day of production, starting in January but for the rest of 2018, production has been at or near record highs in Saudi Arabia, Russia and the U.S.

The Weekend

“AAA expects a record number of Americans to travel for the year-end holiday period, following the trend set for every other holiday in 2018,” says Jana L. Tidwell, manager of Public and Government Affairs for AAA Mid-Atlantic. “Cheaper gas prices, strong economic growth and robust consumer spending are driving the decision to hit the road for many motorists.”

The Week Ahead

AAA Mid-Atlantic anticipates it will come to the aid of approximately 62,000 stranded motorists throughout its territory (NJ, DE, PA, MD, DC, VA) during the year-end holiday period.  Between December 22, 2018 and January 1, 2019 the motor club will be busy with battery replacements, jump starts, changing tires and more. Nationwide, AAA anticipates it will come to the aid of 960,000 stranded motorists during the year-end holiday period.

AAA has a variety of resources to help motorists save on fuel:

• Fuel Price Finder (https://www.AAA.com/fuelfinder) locates the lowest fuel price in your area. 
• AAA Gas Cost Calculator (https://gasprices.aaa.com/aaa-gas-cost-calculator/) helps budget travel expenses. 
• TripTik Mobile (https://www.aaa.com/mobile) plots fuel prices along your travel route. 
• AAA's Member Rewards Visa® Credit Card (https://www.AAA.com/financial/AAAvisa.htm) accumulates double points on fuel purchases. 

AAA is the most comprehensive resource for gas prices.  Unlike the Lundberg Survey of 7,000 gas stations, AAA reports reflect actual prices from credit card transactions at more than 100,000 gas stations in the U.S.

Next Weekend Gas Watch: Friday, December 28, 2018

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AAA provides automotive, travel and insurance services to 57 million members nationwide and more than three million members in Pennsylvania.  AAA advocates for the safety and mobility of its members and has been committed to outstanding road service for more than 100 years.  The not-for-profit, fully tax-paying member organization works on behalf of motorists, who can now map a route, find local gas prices, discover discounts, book a hotel and track their roadside assistance service with the AAA Mobile app for iPhone, iPad and Android.  For more information, visit www.AAA.com.