AAA: Gas Prices Rise as Demand Increases and Crude Prices Climb

Gas prices are three cents higher in Western Pennsylvania this week at $3.779 per gallon, according to AAA East Central’s Gas Price Report.

This week’s average prices: Western Pennsylvania Average                          $3.779
Average price during the week of January 17, 2023                                          $3.743
Average price during the week of January 24, 2022                                          $3.508

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

$3.795      Altoona
$3.801      Beaver
$3.796      Bradford
$3.773      Brookville
$3.788      Butler
$3.777      Clarion
$3.762      DuBois
$3.763      Erie
$3.761      Greensburg
$3.793      Indiana
$3.795      Jeannette
$3.792      Kittanning
$3.790      Latrobe
$3.788      Meadville
$3.823      Mercer
$3.714      New Castle
$3.777      New Kensington
$3.796      Oil City
$3.769      Pittsburgh
$3.768      Sharon
$3.758      Uniontown
$3.799      Warren
$3.738      Washington

Trend Analysis: 

Drivers appear to be taking advantage of the recent milder weather in much of the nation by fueling up and hitting the road. An increase in gasoline demand and slightly more expensive oil pushed the national average for a gallon of gas 12 cents higher over the last week to $3.42. Today’s average is 33 cents more than a month ago and ten cents more than a year ago.

According to data from the Energy Information Administration, gas demand rose from 7.56 million to 8.05 million barrels per day last week. Meanwhile, total domestic gasoline stocks increased by 3.5 million barrels to 230.3 million barrels.

At the close of Friday’s formal trading session, West Texas Intermediate increased by 98 cents to settle at $81.31. Crude prices rose at the end of last week due to increased market optimism that crude demand may be more robust than expected this year. In particular, the market believes that the re-opening of China’s economy, despite high coronavirus infection rates, will help to bolster global crude demand, while supporting elevated prices.

Motorists can find current gas prices nationwide, statewide, and countywide at gasprices.aaa.com.

AAA East Central is a not-for-profit association with 70 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.