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Pennsylvania and Delaware gas prices reach record highs
Gas prices in Pennsylvania and Delaware reached all-time highs again Friday, less than two months after breaking a near 14-year record.
PHILADELPHIA - Just when you thought gas prices were going down, they are going up again - way up!
Gas prices in Pennsylvania and Delaware reached all-time highs again Friday, less than two months after breaking a near 14-year record.
Average prices hit $4.28 in Pennsylvania and $4.22 in Delaware. In Philadelphia alone, prices reached an average $4.35.
Experts say there are several factors contributing to the record high prices. However, the most significant factor is the price of crude oil, which is currently trading near $110.
"A gallon of gasoline is made up of 50-60 percent crude oil," said Jana Tidwell with AAA Public Affairs. "When crude oil prices increase, gas prices increase, they remain high globally largely in part to the Russian invasion of Ukraine."
She also says the hundreds of millions of gallons of gas President Biden ordered the federal government to release was "only likely going to be a short-term benefit to motorists."
As gas nears $5-a-gallon at some stations, people are considering the cost of filling up their cars as a serious expense.
"I gotta set aside some money for it then I guess if im going to be using my car," said Joe Tovi. "I gotta prioritize gas prices now. It becomes a part of the budget."
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Rising prices has an even greater impact on RV owners, who could pay nearly $500 to fill up their home on wheels.
However, Dylans RV Ceneter GM David Pancrazio, says business is still good.
"So that trip might cost somebody an extra $150 or $200 in fuel that it wouldn’t typically cost them," Pancrazio said. 'But for our customers it’s a small price to pay for the freedom of movement and being with their family."
Summer travel could also be a factor in the recent prices spikes, experts say.
"Summer blended gasoline is unfortunately more expensive to produce," Tidwell said. "So that passes along a .10 to .15 cent increase per gallon to motorists."