Gas prices are 13 cents higher in Western Pennsylvania this week at $3.863 per gallon, according to AAA East Central’s Gas Price Report.
This week’s average prices: Western Pennsylvania Average $3.863
Average price during the week of July 24, 2023 $3.734
Average price during the week of August 1, 2022 $4.507
The average price of unleaded self-serve gasoline in various areas:
$3.883 Altoona
$3.782 Beaver
$3.848 Bradford
$3.896 Brookville
$3.880 Butler
$3.842 Clarion
$3.893 DuBois
$3.873 Erie
$3.884 Greensburg
$3.887 Indiana
$3.894 Jeannette
$3.839 Kittanning
$3.894 Latrobe
$3.883 Meadville
$3.897 Mercer
$3.782 New Castle
$3.868 New Kensington
$3.896 Oil City
$3.827 Pittsburgh
$3.787 Sharon
$3.858 Uniontown
$3.899 Warren
$3.846 Washington
Trend Analysis:
The national average for a gallon of gas surged 16 cents over the past week to $3.75. The primary cause is the cost of oil, which has increased nearly $4 in the past few days to hover near $80 per barrel. As oil accounts for almost 50 percent of the cost of a gallon of gas, higher oil prices usually mean higher pump prices. Today’s national average of $3.71 is 21 cents more than a month ago but 47 cents less than a year ago.
According to new data from the Energy Information Administration (EIA), gas demand rose slightly from 8.86 to 8.94 million barrels per day last week. Meanwhile, total domestic gasoline stocks dipped from 218.4 to 217.6 million barrels.
At the close of Wednesday’s formal trading session, West Texas Intermediate decreased by 85 cents to settle at $78.78 before rebounding Thursday morning. Due to extended repair timelines at refineries, lower refinery oil usage rates typically influence how much oil prices rise. Additionally, the EIA reported that total domestic commercial crude inventories decreased by 600,000 barrels to 456.8 million barrels.
Motorists can find current gas prices nationwide, statewide, and countywide at gasprices.aaa.com.