Western Pennsylvania Gas Prices Rise Slightly; National Demand at Record High
The average price of gasoline across Western Pennsylvania is three cents higher this week at $2.884 per gallon, according to AAA East Central’s Gas Price Report.
New York ($2.84) ranks as the 10th most expensive state average in the country. At the same price, Pennsylvania ranks 11th.
For the week ending June 14, the Energy Information Administration (EIA) reports inventories fell for a second week, by 1.3 million barrels, to total 62.1 million barrels. With the Philadelphia Energy Solution’s (PES) facility at reduced levels combined with unplanned maintenance at United Refining’s Warren, Pennsylvania, we can expect gasoline stocks and regional refinery utilization to decline in upcoming EIA report’s reports with moderate impacts to gas prices in the region.
This week’s average prices: Western Pennsylvania Average $2.884
Average price during the week of June 17, 2019 $2.850
Average price during the week of June 25, 2018 $3.056
The average price of unleaded self-serve gasoline in various areas:
$2.730 Altoona
$2.890 Beaver
$2.900 Bradford
$2.948 Brookville
$2.780 Butler
$2.869 Clarion
$2.866 Du Bois
$2.937 Erie
$2.926 Greensburg
$2.896 Indiana
$2.935 Jeannette
$2.898 Kittanning
$2.909 Latrobe
$2.883 Meadville
$2.869 Mercer
$2.774 New Castle
$2.929 New Kensington
$2.907 Pittsburgh
$2.803 Sharon
$2.924 Uniontown
$2.959 Warren
$2.910 Washington
On the National Front
Today’s national average is $2.66, which is two cents less than last week and 18 cents less than a month and year ago. U.S. gasoline demand hit its highest level at 9.93 million b/d, for the week ending June 14. It is the highest level ever recorded since the EIA began publishing data in 1991.
Counterintuitively, as motorists drive demand to new heights, pump prices pushed even cheaper across the country on the week. This is due to the recent trend in cheaper crude pricing and because crude comprises roughly 60% of the costs motorists pay at the pump, drivers are seeing summer savings. When compared to this time last year, domestic crude prices are cheaper by approximately $12 per barrel.
At the end of last week, a massive fire took PES, the largest on the East Coast, offline, causing concern of what this could do to gas prices this summer. The incident will likely lead to reduced gasoline production at the refinery. However, gasoline from Canada, neighboring refineries, and the Colonial Pipeline are likely solutions to help backfill supply, meet demand and relieve any tightness in gasoline supplies as a result of reduced gasoline production at PES’ refinery and keep gas prices cheap throughout summer.
At the close of Friday’s formal trading session on the NYMEX, West Texas Intermediate increased by 36 cents to settle at $57.43. Crude prices climbed as tension rises in the Middle East.
Approximately 20% of global crude supplies flow through the Gulf of Omans. Moving into this week, if tensions between the U.S. and Iran escalate, the market will likely continue pushing global crude prices higher due to increased market fears that a military standoff between Iran and the U.S. could limit global supply and access to crude.
Motorists can find current gas prices nationwide, statewide, and countywide at GasPrices.AAA.com.
AAA East Central is a not-for-profit association with 79 local offices in Kentucky, New York, Ohio, Pennsylvania and West Virginia serving 2.7 million members. News releases are available atnews.eastcentral.aaa.com. Follow us on Twitter and Facebook.
For More Information, Contact:
Jim Garrity, Public and Legislative Affairs Manager
Desk: 412-365-7274 / Cell: 412-905-9021 / Email: Garrity.James@aaaec.com
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