Gas prices are two cents lower in Western Pennsylvania this week at $3.875 per gallon, according to AAA East Central’s Gas Price Report.
This week’s average prices: Western Pennsylvania Average $3.875
Average price during the week of August 14, 2023 $3.893
Average price during the week of August 22, 2022 $4.254
The average price of unleaded self-serve gasoline in various areas:
$3.990 Altoona
$3.739 Beaver
$3.756 Bradford
$3.876 Brookville
$3.931 Butler
$3.942 Clarion
$3.968 DuBois
$3.960 Erie
$3.871 Greensburg
$3.894 Indiana
$3.886 Jeannette
$3.884 Kittanning
$3.902 Latrobe
$3.810 Meadville
$3.999 Mercer
$3.697 New Castle
$3.889 New Kensington
$3.993 Oil City
$3.859 Pittsburgh
$3.608 Sharon
$3.802 Uniontown
$3.999 Warren
$3.863 Washington
Trend Analysis:
The national average for a gallon of gas is up a penny over the past week to $3.86, despite lower demand and the price of oil falling several dollars per barrel. But the potential for hurricane development and forecasts of an expanding heat dome over Texas, Oklahoma, and Kansas may cause refineries in these states to curb production because of the sizzling temperatures. Today’s national average is 28 cents more than a month ago and four cents more than a year ago.
According to new data from the Energy Information Administration (EIA), gas demand slid from 9.30 to 8.85 million barrels per day last week. Meanwhile, total domestic gasoline stocks slightly decreased from 216.4 to 216.2 million barrels. Although demand has fallen, fluctuating oil prices have kept pump prices elevated.
At the close of Wednesday’s formal trading session, West Texas Intermediate decreased by $1.61 to settle at $79.38. Oil prices declined amid ongoing concern that if interest rates continue to increase, the economy could tip into a recession. Additionally, the EIA reported that total domestic commercial crude inventories decreased from 445.6 to 439.7 million barrels.
Motorists can find current gas prices nationwide, statewide, and countywide at gasprices.aaa.com.