Gas prices are eight cents lower in Western Pennsylvania this week at $3.621 per gallon, according to AAA East Central’s Gas Price Report.

This week’s average prices: Western Pennsylvania Average                         $3.621
Average price during the week of August 26, 2024                                          $3.700
Average price during the week of September 5, 2023                                      $3.852

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

$3.434      Altoona
$3.743      Beaver
$3.802      Bradford
$3.443      Brookville
$3.593      Butler
$3.551      Clarion
$3.628      DuBois
$3.599      Erie
$3.659      Greensburg
$3.637      Indiana
$3.643      Jeannette
$3.744      Kittanning
$3.587      Latrobe
$3.608      Meadville
$3.712      Mercer
$3.570      New Castle
$3.546      New Kensington
$3.621      Oil City
$3.653      Pittsburgh
$3.491      Sharon
$3.656      Uniontown
$3.795      Warren
$3.558      Washington

Trend Analysis:
Pump prices continued to fall over the past week and are three cents lower this week at $3.32.  With Labor Day signaling the unofficial end of the summer travel season, there was a slight uptick in gas demand but lower crude prices are helping to offset gas price increases. Today’s national average is 15 cents lower than a month ago and 49 cents less than a year ago.

According to new data from the Energy Information Administration (EIA), gas demand rose last week from 9.19 million barrels per day to 9.30. Meanwhile, total domestic gasoline stocks fell from 220.2 to 218.4 million barrels, and gasoline production decreased last week, averaging 9.6 million daily.

At the close of Wednesday’s formal trading session, West Texas Intermediate fell by $1.01 to settle at $74.52 a barrel. The EIA reports that crude oil inventories decreased by 0.8 million barrels from the previous week. At 425.2 million barrels, U.S. crude oil inventories are about 4% below the five-year average for this time of year.