Gas prices are stable in Western Pennsylvania this week at $3.655 per gallon, according to AAA East Central’s Gas Price Report.
This week’s average prices: Western Pennsylvania Average $3.655
Average price during the week of June 12, 2023 $3.652
Average price during the week of June 21, 2022 $5.007
The average price of unleaded self-serve gasoline in various areas:
$3.692 Altoona
$3.723 Beaver
$3.703 Bradford
$3.521 Brookville
$3.668 Butler
$3.654 Clarion
$3.424 DuBois
$3.671 Erie
$3.675 Greensburg
$3.698 Indiana
$3.704 Jeannette
$3.701 Kittanning
$3.685 Latrobe
$3.678 Meadville
$3.712 Mercer
$3.504 New Castle
$3.688 New Kensington
$3.699 Oil City
$3.700 Pittsburgh
$3.504 Sharon
$3.581 Uniontown
$3.699 Warren
$3.633 Washington
Trend Analysis:
As summer begins, drivers are finding prices significantly lower than last year. Lackluster demand and low oil costs are keeping gas prices relatively stable. The national average for a gallon of gas fell two cents since last week to $3.57. That’s $1.41 less than a year ago with 20 gallons of gas costing nearly $30 less than last year.
According to new data from the Energy Information Administration (EIA), gas demand decreased slightly from 9.22 to 9.19 million barrels per day last week. Meanwhile, total domestic gasoline stocks increased by 2.1 million barrels to 220.9 million barrels. Lower gas demand amid increasing supply has helped to limit pump price increases.
At the close of Wednesday’s formal trading session, West Texas Intermediate decreased by $1.15 to settle at $68.27. Oil prices declined due to market concerns about the U.S. Federal Reserve resuming interest rate increases, which could tip the economy into a recession. Additionally, the EIA reported that total domestic commercial crude inventories increased significantly by 7.9 million barrels to 467.1 million barrels last week.
Motorists can find current gas prices nationwide, statewide, and countywide at gasprices.aaa.com.