Gas prices hit record highs in Philadelphia – NBC10 Philadelphia

Philadelphia-area pump pain hit a milestone with $5 a gallon of regular gasoline at most gas stations across the city, with the average price hitting record highs again just a week after the weekend. end of Memorial Day.

The average price per gallon of regular fuel in the Philadelphia area Saturday morning was $5.007, down from $4.94 Friday and $4.450 a month ago, according to data released by AAA Mid-Atlantic.

The price hike comes just after Memorial Day weekend, when AAA predicted 39.2 million people would travel 50 miles or more from home.

Gas prices continued to climb in Pennsylvania, New Jersey, Delaware and across the country amid growing demand and rising oil prices.

On Saturday, the average price per gallon hit a record in the five-county area of ​​Philadelphia ($5.007), South Jersey (4.90), Delaware (4.783), Pennsylvania (4.913), New Jersey (4.916) and the nationwide ($4.82). ), according to data published by AAA Mid-Atlantic.

CNBC reports that US households now spend the equivalent of $5,000 a year on gasoline, up from $2,800 a year ago, according to Yardeni Research.

Rising energy prices have also led to a dramatic increase in energy production costs, which in turn has led to higher electricity bills for millions of people across the country.

In Pennsylvania, amid rising oil and natural gas prices, some of the major electricity providers announced increases of between 6% and 45% in their energy rates that took effect in June.

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