Gas prices in Pennsylvania are almost 5 cents lower this week at $5.019 per gallon, according to AAA East Central’s Gas Price Report.

The national average for a gallon of gas fell below $5 this week. The primary cause is the tumbling cost of oil, which fell from $122 to around $110 per barrel due to fears of a global recession and its associated economic slowdown. As a result, the national average for a gallon of gas is $4.97, almost a nickel less than a week ago, 37 cents more than a month ago, and almost $1.90 more than a year ago.

The recent high prices may have led to a small drop in domestic gasoline demand as fewer drivers fueled up last week. This dip, coupled with less costly oil, has taken some steam out of surging pump prices. And this is happening right before drivers gas up for what AAA forecasts will be a busy July Fourth travel weekend.

AAA predicts 47.9 million people will travel 50 miles or more from home over the holiday weekend (June 30-July 4). This is an increase of 3.7% over 2021, bringing travel volumes just shy of those seen in 2019.

The biggest surprise - car travel - will set a new record despite historically high gas prices with 42 million people hitting the road.