Gas prices are a penny cheaper in Western Pennsylvania this week at $3.893 per gallon, according to AAA East Central’s Gas Price Report.
This week’s average prices: Western Pennsylvania Average $3.893
Average price during the week of August 7, 2023 $3.909
Average price during the week of August 15, 2022 $4.317
The average price of unleaded self-serve gasoline in various areas:
$3.991 Altoona
$3.788 Beaver
$3.770 Bradford
$3.932 Brookville
$3.919 Butler
$3.960 Clarion
$3.978 DuBois
$3.971 Erie
$3.885 Greensburg
$3.893 Indiana
$3.895 Jeannette
$3.911 Kittanning
$3.924 Latrobe
$3.931 Meadville
$3.999 Mercer
$3.747 New Castle
$3.873 New Kensington
$3.995 Oil City
$3.857 Pittsburgh
$3.610 Sharon
$3.846 Uniontown
$3.999 Warren
$3.870 Washington
Trend Analysis:
The national average for a gallon of gas is up three cents over the past week and is now at $3.85. This latest price increase comes after an uptick in gas demand and crude oil prices staying above $80 per barrel. Today’s national average is 29 cents more than a month ago but 10 cents less than a year ago.
According to new data from the Energy Information Administration (EIA), gas demand jumped from 8.84 to 9.30 million barrels per day last week. Meanwhile, total domestic gasoline stocks decreased from 219.1 to 216.4 million barrels. Higher demand, amid tighter supply, has helped to keep pump prices elevated.
At the close of Wednesday’s formal trading session, West Texas Intermediate increased by $1.48 to settle at $84.40. The price of oil has not been this high since mid-April 2023. Prices have increased amid market optimism that oil demand will be more robust than expected during this half of 2023 and into 2024. Additionally, the EIA reported that total domestic commercial crude inventories increased from 439.8 to 445.6 million barrels.
Motorists can find current gas prices nationwide, statewide, and countywide at gasprices.aaa.com.