Gas prices down, but still high

August 21, 2008 3:42:33 PM PDT
Fears over escalating tensions with Russia sent oil prices back up today. The price of a barrel of crude closed up $5.62, to just over $121. Meanwhile, gas prices are continuing to fall. AAA Mid-Atlantic reports the average price for a gallon of regular unleaded is $3.65 in the Philadelphia area. The price is $3.53 a gallon, on average, in Delaware, and just $3.43 in South Jersey.

After you fill up at the pumps you may feel like your wallet is a little fuller too. We saw the price for a gallon of gas on City Avenue at $3.59. That's good news, especially since we have a holiday weekend right around the corner.

As the summer winds down and people take those last few summer runs to the shore, gas prices continue to go down. In the Philadelphia area price of unleaded is down 2 cents, putting us at an average of $3.65 - just in time for those last few summer runs to the shore.

The drop is a result of lower crude oil prices, which were so high in July. The average price of gas in the area was $4.11, forcing people to make some adjustments.

Even though the pain at the pump has eased up, prices are still almost a dollar higher than they were last year.

People have gotten used to conserving, which may have impacted the price of oil. Most drivers say they'll continue to the frugal habits.

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