Gas prices are three cents lower in Western Pennsylvania this week at $3.963 per gallon, according to AAA East Central’s Gas Price Report.
This week’s average prices: Western Pennsylvania Average $3.963
Average price during the week of October 17, 2022 $3.990
Average price during the week of October 25, 2021 $3.581
The average price of unleaded self-serve gasoline in various areas:
$3.954 Altoona
$4.008 Beaver
$3.999 Bradford
$3.666 Brookville
$3.986 Butler
$3.990 Clarion
$3.865 DuBois
$3.946 Erie
$3.959 Greensburg
$3.965 Indiana
$3.982 Jeannette
$3.986 Kittanning
$3.956 Latrobe
$3.996 Meadville
$4.079 Mercer
$3.930 New Castle
$3.968 New Kensington
**$3.999 Oil City
$3.988 Pittsburgh**
$3.972 Sharon
$3.990 Uniontown
$3.999 Warren
$3.967 Washington
Trend Analysis:
The national average pump price fell nine cents over the past week to hit $3.79. It has dropped daily since October 11, primarily due to lower oil prices and fewer drivers than usual fueling up. Today’s national average is nine cents higher than a month ago and 41 cents more than a year ago.
Global recession fears and the government’s plan to continue tapping the Strategic Petroleum Reserve into December have helped temper oil prices. While this announcement will help take some of the pressure off pump prices, the exact pricing impact remains uncertain.
According to recent data from the Energy Information Administration (EIA), gas demand increased slightly from 8.28 million barrels per day to 8.68 million barrels per day last week. Total domestic gasoline stocks decreased marginally from 209.5 million barrels to 209.4 million barrels. Although gasoline demand is up slightly, it remains nearly 1 million barrels lower than this date last year.
At the close of Friday’s formal trading session, West Texas Intermediate increased by 54 cents to settle at $85.05. Although crude prices increased after the EIA reported that total domestic commercial crude inventories dropped by 1.7 million barrels to 437.4 million barrels last week, the price of oil had declined earlier in the week due to ongoing market concerns about crude demand as recession fears increased.
Motorists can find current gas prices nationwide, statewide, and countywide at GasPrices.AAA.com.
AAA East Central is a not-for-profit association with 71 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.
