AAA: Memorial Day Travelers Facing Higher Gas Prices This Year

Gas prices are 18 cents higher in Western Pennsylvania this week at $4.700 per gallon, according to AAA East Central’s Gas Price Report.

This week’s average prices: Western Pennsylvania Average                $4.700
Average price during the week of May 16, 2022                                      $4.520
Average price during the week of May 24, 2021                                      $3.178

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

$4.755      Altoona
$4.688      Beaver
$4.699      Bradford
$4.688      Brookville
$4.712      Butler
$4.729      Clarion
$4.699      DuBois
$4.683      Erie
$4.690      Greensburg
$4.698      Indiana
$4.695      Jeannette
$4.712      Kittanning
$4.711      Latrobe
$4.690      Meadville
$4.711      Mercer
$4.681      New Castle
$4.700      New Kensington
$4.699      Oil City
$4.696      Pittsburgh

$4.670      Sharon
$4.687      Uniontown
$4.699      Warren
$4.699      Washington

Trend Analysis:

The national average for a gallon of gas has either remained flat or risen every day since April 24 and has set a new record daily since May 10. That was the day gas eclipsed the previous record high of $4.33, set earlier this year on March 11. The national average for a gallon of gasoline is now $4.59 and all 50 states are above $4 per gallon.

Gasoline is $1.05 more than it was on February 24, when Russia invaded Ukraine. The invasion caused uncertainty throughout the oil market that has kept oil costs elevated. Domestically, meanwhile, seasonal gas demand is rising as more drivers hit the road, despite the pain they may face paying at the pump. According to new data from the Energy Information Administration (EIA), total domestic gasoline stocks decreased by 4.8 million barrels to 220.2 million barrels last week. Tighter supply and increased demand have pushed pump prices higher. Today’s national average is 47 cents more than a month ago and $1.56 more than a year ago

At the close of Friday’s formal trading session, West Texas Intermediate increased by $1.02 to settle at $113.23—nearly $3 per barrel higher than the closing price at the end of the previous week. Crude prices rose after EIA reported that domestic crude supply decreased by 3.4 million barrels to 420.8 million barrels. The current level is approximately 13.4 percent lower than during the second week of May 2021.

Motorists can find current gas prices nationwide, statewide, and countywide at GasPrices.AAA.com.


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