Average price for fuel down from last week, expected to drop more, experts say

PHILADELPHIA (WPVI) -- Gas prices nationwide are falling and analysts expect them to drop much more in the weeks ahead.

The welcome relief is being attributed to a steep drop in the cost of crude oil.

In the Philadelphia region, the average price for a gallon of gas is $3.68, which is down two cents from a week ago. In New Jersey, the average price is down four cents from last week to $3.30. Delaware checks in at $3.18, down three cents since last week.

At the Liberty station in Burlington, New Jersey, a gallon of gas costs $2.95. It's a welcome sign for drivers.

"I think it's wonderful," said a driver who filled up her tank on Monday.

The manager of the station said he tries to stay competitive with prices and is selling about 14,000 to 15,000 gallons every day.

Experts at GasBuddy.com said there are a couple of reasons for the price drop.

"A lot of this is seasonal, it happens almost every fall. Gas prices drop significantly because, not only the change over to cheaper winter gasoline, but also the fact that Americans aren't consuming as much gasoline," said Patrick DeHaan, of Gasbuddy.

However, the war between Israel and Hamas could change the downward trend if other countries are drawn into the conflict.

"It really depends on if this does escalate into a direct situation where Iran is involved, that could push oil prices up," DeHaan said.

So far, the unrest hasn't impacted prices at the pump, and drivers are glad to get a little bit of help.

"I drive a lot. I'm a therapist so I'm driving between clients," said Audra Lubiak, who filled up her tank in Conshohocken. She paid $3.75 a gallon. It wasn't the cheapest, but much better than the $4.19 price just down the road.

She's been surprised to see the prices, especially with what has been unfolding in the Middle East.

"As soon as I heard everything was going on, I was like, everything is going to get gouged again and go back up. But it's doing the opposite which is fine by me," Lubiak said.

DeHaan said drivers can expect to see prices drop another 25 to 35 cents a gallon by the end of the year if the war doesn't spread.

The national average is currently down to $3.49.