Drivers looking to fuel up will be getting a bit of price relief this week as Pennsylvania-based Sheetz formally announced this afternoon that prices would be slashed by a significant amount through July 4. Effective immediately, Unleaded 88 gasoline will cost $3.99 per gallon, while E85 gasoline will run $3.49 per gallon.
Gasoline prices in the United States have surged in recent months due to multiple factors. The COVID-19 pandemic has disrupted oil production, refinement and distribution, and has also caused fluctuations in demand. Russia’s invasion of Ukraine has also disrupted the global oil market, as Russia is a major oil producer for countries all over the world.
As gasoline prices have risen, so have corporate profits. The largest oil and gasoline companies have posted historic profits in the first three months of 2022, offering little relief for customers. The national average price of gasoline rose from $2.86 per gallon in March 2021 to a record high of $5.01 per gallon earlier this month. US President Joe Biden has proposed a Federal Gas Tax Holiday that would temporarily eliminate the 18.4 cent tax on gasoline. That plan has been criticized by some economists as it would take away from highway infrastructure funds that would need to be made up elsewhere in the federal budget.
Sheetz recently expanded into the Central Ohio market in 2021, opening the first location in Delaware in April of that year. Over a dozen locations have opened since then, located in Columbus, Hilliard, Reynoldsburg, New Albany, Obetz and additional suburbs and neighborhoods.
For more information, visit www.sheetz.com.