National Average Price of Gas Expected to Fall Below $2

As gas prices continue to slide, experts are predicting that the national average for one gallon of gasoline will be under $2 before the end of the month,

The American Automobile Association (AAA) said the average price of gasoline has dropped for 117 consecutive days, for a total of $1.29, bringing the national average to $2.04. AAA’s Fuel Gauge Report expects the average to drop below $2 before the end of the month.

“The average price at the pump is directly connected to the global price of crude oil, with crude costs accounting for more than half of the price of gasoline,” the Fuel Gauge Report said. “Like pump prices, crude oil prices have also posted multi-year lows due to global supply outpacing demand, which has kept downward pressure on the price of crude and ultimately meant hefty discounts in retail gasoline for U.S. drivers.”

How do the gas prices in the Lehigh Valley stack up against the national average?

The current average price of regular gasoline in the Allentown-Bethlehem-Easton metro area is $2.32, compared to the average of $3.46 one year ago, according to AAA’s Fuel Gauge Report. The average has dropped more than 35 cents over the last month, down from $2.68 one month ago.

With this consistent decline in fuel prices, can we expect to see gas prices under the magical $2 mark in the Lehigh Valley?

Despite the consistent drop, Lehigh Valley residents shouldn’t expect to see gas prices drop below $2. Motorists in Pennsylvania are paying the highest combined tax on fuel in the nation, according to The Morning Call.

Pennsylvania consumers are currently paying 69.9 cents-per-gallon in state and federal taxes. The tax figure is higher than those of California and New York, which are paying 63.8 cents and 63.5 cents in combined tax respectively, The Morning Call reported.

According to GasBuddy.com, a company that reports gas and diesel prices through crowdsourcing, the cheapest location for gasoline in Allentown is US Gas N Go on Airport Road, charging $2.09 per gallon when paying with cash.

Check out GasBuddy.com to see a list of some of the cheapest gas in the Lehigh Valley.

If you know of any cheap gas stations in the area, let us know in the comments below!