Rick Wible stopped in Northumberland to fill up his gas tank on Monday afternoon, making sure he topped off before gas prices went up even more.
Gas prices are as high as they have been in seven years after jumping nearly a dime last week and were averaging about $3.42 per gallon across the state on Monday. In the Valley, prices range from $3.29 to $3.49.
Wible, of Milton, is a financial advisor and he said he tracks gas, oil and energy prices because it affects everything, he said.
“It’s the quickest inflation hit you can have as a consumer,” he said.
Propane has tripled in a year and natural gas is at a seven-year high, he said.
“From a personal level, there’s not a whole lot you can do except buy it now,” he said. “You definitely want to fill up now.”
According to GasBuddy.com, the average price of gas has gone up 9.5 cents to $3.42 a gallon, a jump GasBuddy said comes from “a surge in demand.”
Gas prices in Pennsylvania are 12.4 cents per gallon higher than a month ago and stand 91.6 cents per gallon higher than a year ago.
Statewide, prices range from $2.99 to $3.65, GasBuddy reported.
“The nation’s gas prices were also pushed to their highest since 2014, all on OPEC’s decision not to raise production more than it already agreed to in July,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “The OPEC decision caused an immediate reaction in oil prices, and amidst what is turning into a global energy crunch, motorists are now spending over $400 million more on gasoline every single day than they were just a year ago.
In the Valley, AAA reports price averages of $3.37 in Sunbury, $3.38 in Shamokin, $3.39 in Lewisburg and more than $3.40 in Elysburg, Mifflinburg, Milton, Mount Carmel and Selinsgrove.
AAA reports an Oct. 1 breach and spill in a key pipeline supplying fuel to parts of the southeastern U.S. led to tightened regional supplies. Kinder Morgan Inc. (KMI) originally said it expected repairs to its southeastern products pipeline to be completed by Saturday, with a restart afterward. The repairs were slowed by the recent heavy rain and flooding. The pipeline serves various metropolitan areas including Birmingham, Alabama; Atlanta, Georgia; Charlotte, North Carolina; and Washington, D.C.
as the global economy recovers, combined with deep cuts to production from early in the pandemic,” De Haan said. “If Americans can’t slow their appetite for fuels, we’ve got no place for prices to go but up.”