AAA: Gas Prices Lower in PA; Oil Prices Still Declining

Gas prices are four cents lower in Western Pennsylvania this week at $4.249 per gallon, according to AAA East Central’s Gas Price Report.

This week’s average prices: Western Pennsylvania Average                $4.249
Average price during the week of April 4, 2022                                       $4.283
Average price during the week of April 12, 2021                                     $3.000

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

$4.178      Altoona
$4.315      Beaver
$4.268      Bradford
$4.269      Brookville
$4.247      Butler
$4.242      Clarion
$4.276      DuBois
$4.246      Erie
$4.241      Greensburg
$4.244      Indiana
$4.205      Jeannette
$4.227      Kittanning
$4.238      Latrobe
$4.260      Meadville
$4.298      Mercer
$4.236      New Castle
$4.239      New Kensington
$4.262      Oil City
$4.240      Pittsburgh
$4.268      Sharon
$4.261      Uniontown
$4.262      Warren
$4.204      Washington

Trend Analysis: 

The cost of gasoline has continued to slide due to falling oil prices. The global oil market has seen lower prices since the U.S. and its allies agreed to significant releases of oil reserves. Also weighing down oil prices is the fear of resurgent COVID-19 infections in China and its potential for an economic slowdown in one of the world’s largest oil-consuming nations. Domestically, the national average for a gallon of gas has fallen to $4.11. This is seven cents less than a week ago, 22 cents less than a month ago, and $1.25 more than a year ago.

According to new data from the Energy Information Administration (EIA), total domestic gasoline stocks decreased by 2 million barrels to 236.8 million barrels last week. Gasoline demand increased slightly from 8.5 million barrels per day to 8.56 million barrels per day. Although less supply and more demand would typically support higher prices, the fluctuating oil price continues to be the main factor influencing pump prices. Pump prices will likely face downward pressure if oil prices remain below $100 per barrel.

At the close of Friday’s formal trading session, West Texas Intermediate increased by $2.23 to settle at $98.26. Overall, crude prices declined last week following EIA’s weekly report, which showed U.S. crude oil inventories rose by 2.4 million barrels to reach 412.4 million barrels.

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

AAA East Central is a not-for-profit association with 72 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.