Experts say national gas prices could reverse course in the coming weeks

Consumer

HARRISBURG, Pa. (WHTM) — Gas prices are up slightly over the past week but experts say that’s likely to reverse course as the U.S. may have already seen peak consumption with the July 4 holiday.

Harrisburg gas prices trickled higher 0.7 cents over the past week averaging $3.17 per gallon Monday morning.

According to GasBuddy price reports, the cheapest station in Harrisburg is priced at $2.98/g while the most expensive is $3.25/g.

The trend follows the national average which rose half a cent per gallon over the past week.

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Prices in York were up 0.9 cents per gallon while prices fell in half a cent in Lancaster and 1 cent in reading.

With the passage of the July 4 holiday. experts are saying consumers could be weeks away from a much needed price stabilization.

“While the national average has seen a slight rise over the last week, we may see some stabilization coming to the pump as oil prices hold just under their 2021 peak from last week,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “With U.S. gasoline demand falling slightly last week, we may have already seen peak consumption with the July 4 holiday. While the jury isn’t quite in on that just yet, we’re potentially only 4-6 weeks away from gas prices beginning a seasonal decline that we’re likely all eagerly awaiting.”


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