AAA: Pennsylvania Gas Prices Increase; Demand Ramps Up Nationwide
The average price of gasoline across Western Pennsylvania is three cents higher this week at $2.479 per gallon, according to AAA East Central’s Gas Price Report.
Mid-Atlantic and Northeast states saw larger pump price increases compared to recent weeks, ranging from 4 to 9 cents. West Virginia (+9 cents), North Carolina (+8 cents) and Pennsylvania (+7 cents) saw the biggest increases in the region and land on this week’s top 10 largest weekly increases list. All other states saw prices fluctuate between four and eight cents, except for New York (+2 cents).
Most states in the region saw smaller increases at the pump likely due to the large increase in gasoline stocks, which added 1.3 million barrels, according to Energy Information Administartion (EIA) data. Gas prices are likely to increase for most states in the region, but the tri-states – New York, New Jersey and Connecticut – may see smaller jumps due to the requirement that travelers from states with high coronavirus rates quarantine upon arrival.
This week’s average prices: Western Pennsylvania Average $2.479
Average price during the week of June 22, 2020 $2.440
Average price during the week of July 1, 2019 $2.948
The average price of unleaded self-serve gasoline in various areas:
$2.500 Du Bois
$2.407 New Castle
$2.492 New Kensington
$2.499 Oil City
On the National Front
On the week, gasoline demand increased 10% from 7.8 million barrels to 8.6 million barrels. While the demand rate is much lower than a typical summer reading, it’s the highest since late March, showing continued signs that Americans are filling up more.
The increase in gasoline demand contributed towards the national gas price average’s four cent bump to $2.17. While that average will continue to increase ahead of the Independence Day holiday weekend, travelers will find pump prices about 50 cents cheaper than last year’s holiday.
At the end of Friday’s formal trading session, West Texas Intermediate decreased by 23 cents to settle at $38.49 per barrel. Domestic crude prices pushed cheaper last week due to an increase in new coronavirus infections worldwide, which could suppress crude demand if stay at home orders increase. For this week, crude prices could continue to decline if the market continues to worry that efforts to stimulate the global economy will falter because of uncontained outbreaks.
Motorists can find current gas prices nationwide, statewide, and countywide at GasPrices.AAA.com.
AAA East Central is a not-for-profit association with 78 local offices in Kentucky, New York, Ohio, Pennsylvania and West Virginia serving 2.7 million members. News releases are available at news.eastcentral.aaa.com. Follow us on Twitter and Facebook.