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Philadelphia Business Today, 7/18
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Phila. region’s gas prices decline

You might not be feeling it at the pump, but the average gas price retreated slightly overnight, according to AAA Mid-Atlantic.

The average for a gallon of regular no-lead went down a cent in the five-county Philadelphia region, to $4.14, and went down 2 cents in South Jersey, to $3.93.

The national average remained at $4.11.

A year ago, we thought we had it tough at $2.99 a gallon in the Philadelphia region, $2.79 in South Jersey, and $3.02 at the all-over national level.

At the diesel pump, the average price in the Philly region remained at $5.02, and in South Jersey remained at $4.73.

The national diesel average retreated from its all-time high of $4.85, reached Thursday, and settled in at $4.84.

Meanwhile, oil prices rose as news of an output cut in Nigeria helped to halt the sharp decline in prices that began three days ago, the Associated Press reported. A barrel of light, sweet crude tacked on $1.03 to $130.32 on the New York Mercantile Exchange, AP said.

 

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