Western Pennsylvania Pump Prices Drop as Regional Inventory Jumps
The average price of gasoline across Western Pennsylvania is six cents cheaper this week at $2.861 per gallon, according to AAA East Central’s Gas Price Report.

Statewide, Pennsylvania motorists are paying a nickel less at the pump this week at an average of $2.82.

All Mid-Atlantic and Northeast states saw gas prices decline on the week. However, decreases have been moderate (an average of four-cents) in comparison to other regions with double-digit weekly changes.

Regional gas prices are likely to continue decreasing, considering gasoline inventory rose by nearly 2 million barrels on the week. According to the Energy Information Administration (EIA), this was the largest build of any region. Much of the increase can be attributed to imports, as regional refinery utilization saw a 2 percent drop this week.

This week’s average prices: Western Pennsylvania Average $2.861
Average price during the week of August 5, 2019 $2.924
Average price during the week of August 13, 2018 $3.113

The average price of unleaded self-serve gasoline in various areas:

$2.556 Altoona
$2.771 Beaver
$2.905 Bradford
$2.941 Brookville
$2.884 Butler
$2.926 Clarion
$2.678 Du Bois
$2.933 Erie
$2.859 Greensburg
$2.915 Indiana
$2.937 Jeannette
$2.905 Kittanning
$2.799 Latrobe
$2.763 Meadville
$2.925 Mercer
$2.798 New Castle
$2.843 New Kensington
$2.932 Pittsburgh
$2.976 Sharon
$2.803 Uniontown
$2.959 Warren
$2.942 Washington

On the National Front
Today’s national gas price average ($2.64) is seven cents cheaper on the week, 13-cents less than a month ago, and 21-cents cheaper than a year ago.

This week’s decline is largely due to an increase in domestic gasoline inventory, which outpaced a weekly increase in demand. According to the EIA’s latest data, stocks built by 4.4 million barrels. Contributing to the build was at least 1.2 million b/d of imports at U.S. ports. With the large bump, stocks now sit 235 million barrels – a U.S. stock level not seen since the end of March.

At the close of Friday’s formal trading session on the NYMEX, West Texas Intermediate increased by a $1.96 to settle at $54.50. Crude prices increased last week after reports emerged that OPEC is considering additional crude production cuts. In July, the cartel announced that it and its partners would extend the 1.2 million b/d crude production reduction agreement for an additional nine months. More details about the potential production cuts will likely be discussed at OPEC’s next meeting in December.

Motorists can find current gas prices nationwide, statewide, and countywide at GasPrices.AAA.com.

AAA East Central is a not-for-profit association with 79 local offices in Kentucky, New York, Ohio, Pennsylvania and West Virginia serving 2.7 million members. News releases are available at news.eastcentral.aaa.com. Follow us on Twitter and Facebook.

Hopewell Schools announcing some new hires…

Our Sandy Giordano has the story…

Industry trade groups representing producers in several countries have signed on to a letter complaining the PA Wine & Liquor Board is charging what they call “stealth taxes.”

Originally, the board had levied a flat, 30 percent markup on all the products it sold. But the new system adopted in 2016 gave the state Liquor Control Board power to negotiate directly with wholesalers, and then set prices based on those agreements.

The change was pitched as a way to save consumers money, but also pump more money into the state.

But a group of spirits producers from Canada, Australia, New Zealand, Scotland, the United Kingdom, and the European Union say they’re concerned it has made the markups unfair.

The PLCB maintains it has been transparent and open about its pricing, and says it’s having “collaborative” discussions about markups with suppliers.

Add the Sewickley Bridge to PennDOT’s list for work. The Sewickley Bridge will get resurfacing work done and will force PennDOT to shut down the span for a 10-day stretch next year.

Though a 10 day closure for a busy bridge is not a happy proposition, PennDOT district executive Cheryl Moon-Sirianni says it’s better than closing the bridge 15 consecutive weekends, which was the alternative.

PennDOT says 18,000 vehicles use the Sewickley Bridge daily.

The Ambridge/Aliquippa Bridge to the west and Interstate 79 to the ease will become the detour routes during the closure.

A public information meeting about the bridge project is scheduled for 5 p.m. Thursday at the Sewickley Library.

President Trump arriving in Beaver County this afternoon as he plans to spotlight the Shell cracker plant as a welcome example of economic progress and job creation.

According to senior administration officials the president plans to tour the site of the Shell complex, then deliver a short speech focused on the economy and how to grow and sustain the nation’s competitive edge.

Trump will be joined by U.S. Energy Secretary Rick Perry and EPA chief Andrew Wheeler.

Air Force One is scheduled to touch down shortly after 1 p.m. at Pittsburgh International Airport. Trump’s motorcade will then head to the Shell complex to go on a tour, meet with Shell project officials and state and local dignitaries, and deliver brief remarks, officials said.

Travelers on Interstate 376 and nearby routes may see heavier-than-usual traffic for most of the afternoon while officials accommodate the presidential motorcade, according to local department heads. For security reasons, it’s unclear which route the motorcade will travel.

Trump was initially slated to visit the Shell plant Aug. 8. He postponed the trip following the back-to-back mass shootings in El Paso, Texas, and Dayton, Ohio.

TODAY:
SCATTERED THUNDERSTORMS THIS MORNING BECOMING MORE WIDESPREAD THIS AFTERNOON – HIGH 78

TONIGHT:
SCATTERED THUNDERSTORMS CONTINUE THIS EVENING, PARTLY CLOUDY OVERNIGHT – LOW 66

TOMORROW:
PARTLY CLOUDY, SLIGHT CHANCE OF A SHOWER LATE IN THE DAY – HIGH 84

Aliquippa police officers recently received a Silver Star award for bravery. Our Sandy Giordano has the story…

Beaver County Emergency Services have confirmed an incident occurred shortly after 1pm today at the Beaver County Airport. Officials state that a small 4-Twin aircraft landed at the airport early this afternoon. Soon after touching down the plane’s landing gear failed and collapsed. No injuries were reported and the runway has since been re-opened.

Tune in to Beaver County Radio, 1230 WBVP and 1460 WMBA, on Tuesday, August 20, 2019 at 9 A.M. for financial insight from special guest expert, Tom Young, from 1st Consultants Inc. in Beaver.  Tom will be making his monthly appearance, and will continue the series of multi media forums that center around  “The Prosperity Pathway”.  The Prosperity Pathway is a process that is designed to expand your personal economy.  Tune in, or watch the live video presentation on line to find out more about several unique truths to be discussed this week, including:

Find out how you can be the CFO at Home.

Discover how you can become a prosperity thinking person.

Why changing  the way you think, and not the way others think is important.

 

You can participate in the show by calling 724-843-1888 or 724-774-1888. You can also ask your questions on Facebook Live Tuesday August 20, 2019.

Click Tom’s picture below at showtime of 9:10 a.m. to be directed to the WBVP and WMBA Facebook page where the special multi media simulcast will be streamed on Facebook Live.

 

 

 

 

 

 

 

 

Click on the logo below to find out more about 1st Consultants Inc.