AAA: Gas Prices Decrease in Pennsylvania

Gas prices are a penny lower in Western Pennsylvania this week at $3.758 per gallon, according to AAA East Central’s Gas Price Report.

This week’s average prices: Western Pennsylvania Average                          $3.758
Average price during the week of March 6, 2023                                               $3.767
Average price during the week of March 14, 2022                                             $4.378

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

$3.696      Altoona
$3.760      Beaver
$3.849      Bradford
$3.777      Brookville
$3.710      Butler
$3.691      Clarion
$3.744      DuBois
$3.738      Erie
$3.779      Greensburg
$3.780      Indiana
$3.814      Jeannette
$3.802      Kittanning
$3.792      Latrobe
$3.787      Meadville
$3.867      Mercer
$3.660      New Castle
$3.763      New Kensington
$3.796      Oil City
$3.755      Pittsburgh
$3.631      Sharon
$3.684      Uniontown
$3.859      Warren
$3.697      Washington

Trend Analysis: 

The national average for a gallon of regular gasoline increased seven cents since last week to $3.47 even though demand and the global cost of oil have fallen recently. The higher prices are mainly due to the switch to summer blend gasoline, which can add five to ten cents per gallon. Today’s national average of $3.47 is three cents more than a month ago but 79 cents less than a year ago.

According to new data from the Energy Information Administration (EIA), gas demand declined from 9.11 million to 8.56 million barrels per day last week. Meanwhile, total domestic gasoline stocks decreased by 1.1 million barrels to 238.1 million barrels last week. Although gas demand has declined, fluctuating oil prices have increased pump prices amid tighter supply.

At the close of Wednesday’s formal trading session, West Texas Intermediate decreased by 92 cents to settle at $76.66. Crude prices dropped after the Chair of the U.S. Federal Reserve indicated that additional interest rate increases are likely. The market is concerned that rising interest rates could tip the U.S. economy into a recession, which would lower oil demand amid reduced economic activity. Additionally, the EIA reported that total domestic commercial crude inventories decreased by 1.7 million barrels to 478.5 million barrels last week.  

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.