This week’s average prices: Western Pennsylvania Average $3.779
Average price during the week of January 17, 2023 $3.743
Average price during the week of January 24, 2022 $3.508
The average price of unleaded self-serve gasoline in various areas:
$3.714 New Castle
$3.777 New Kensington
$3.796 Oil City
Drivers appear to be taking advantage of the recent milder weather in much of the nation by fueling up and hitting the road. An increase in gasoline demand and slightly more expensive oil pushed the national average for a gallon of gas 12 cents higher over the last week to $3.42. Today’s average is 33 cents more than a month ago and ten cents more than a year ago.
According to data from the Energy Information Administration, gas demand rose from 7.56 million to 8.05 million barrels per day last week. Meanwhile, total domestic gasoline stocks increased by 3.5 million barrels to 230.3 million barrels.
At the close of Friday’s formal trading session, West Texas Intermediate increased by 98 cents to settle at $81.31. Crude prices rose at the end of last week due to increased market optimism that crude demand may be more robust than expected this year. In particular, the market believes that the re-opening of China’s economy, despite high coronavirus infection rates, will help to bolster global crude demand, while supporting elevated prices.
Motorists can find current gas prices nationwide, statewide, and countywide at gasprices.aaa.com.