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BETHLEHEM, Pa. — Don’t look now, Lehigh Valley, but gas prices are on the rise once again.
The average price for a gallon of gas in Pennsylvania is 10 cents higher this week, at $3.77 per gallon, according to AAA East Central’s Gas Price Report on Tuesday and updated numbers Wednesday.
- Gas is 10 cents higher this week in Pennsylvania
- The cost of a regular gallon of gas increased by 4 cents overnight Monday into Tuesday, the biggest one-day jump since June 6, 2022
- The primary culprit is a higher oil price, but weather is a big factor
The average price in Lehigh County is on par, at $3.772. In Northampton County, the average price is slightly lower, at $3.672.
Across the country, the cost of a regular gallon of gas increased 4 cents overnight Monday into Tuesday, the biggest one-day jump since June 6, 2022, Bloomberg reported.
The national average of $3.68 is 11 cents more than a month ago but 78 cents less than a year ago.
What’s driving prices higher?
The primary culprit is a higher oil price, which has increased to the mid-$70s per barrel, AAA said in a release.
That put the higher gas prices in Pennsylvania in line with the gains of 8 to 10 cents in parts of the Midwest and Florida.
The Wall Street Journal reports the pain at the pump also is likely to continue.
It said benchmark contracts for August deliveries of gasoline have risen in 14 of the past 18 trading sessions, citing Dow Jones Market Data.
That reflects crude prices that have steadily climbed, the report said.
High temperatures, hurricane season also play a role
Other reports cited gas price analysts tying extreme temperatures to higher prices at the pump.
Higher temperatures can increase tropical storm activity, resulting in inflated costs.
The Atlantic hurricane season is headot ed into “uncharted territory,” CNN reported last week, with water temperatures in the Atlantic and the Gulf of Mexico now the warmest on record.
Warm ocean water not only will fuel hurricanes, but breed larger, stronger and wetter storms, experts say.
According to the National Oceanic and Atmospheric Administration, about 3,500 oil and gas structures currently stand in the Gulf, and more than 3,200 remain active.
Even with no major tropical activity, those oil refineries have been impacted by extreme heat, causing equipment malfunctions and breakdowns.
Gasoline supplies are currently at their lowest level for July since 2015, reports said.
After yesterday's strong oil and gasoline rally, today showing a lull- perhaps temporary, but seeing wholesale gasoline down a few cents, still, stations are far behind so expect retail #gasprices to climb.
— Patrick De Haan ⛽️📊 (@GasBuddyGuy) July 25, 2023
"After yesterday's strong oil and gasoline rally, today showing a lull," GasBuddy's Patrick De Haan said on Twitter. "Perhaps temporary, but seeing wholesale gasoline down a few cents, still, stations are far behind so expect retail gas prices to climb."
