AAA: Gas Prices Dip in Pennsylvania

Gas prices are two cents lower in Western Pennsylvania this week at $3.733 per gallon, according to AAA East Central’s Gas Price Report.

This week’s average prices: Western Pennsylvania Average                          $3.733
Average price during the week of March 13, 2023                                             $3.758
Average price during the week of March 21, 2022                                             $4.311

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

$3.656      Altoona
$3.754      Beaver
$3.808      Bradford
$3.758      Brookville
$3.692      Butler
$3.678      Clarion
$3.714      DuBois
$3.695      Erie
$3.782      Greensburg
$3.751      Indiana
$3.795      Jeannette
$3.756      Kittanning
$3.792      Latrobe
$3.784      Meadville
$3.826      Mercer
$3.603      New Castle
$3.755      New Kensington
$3.796      Oil City
$3.740      Pittsburgh
$3.589      Sharon
$3.658      Uniontown
$3.797      Warren
$3.670      Washington

Trend Analysis: 

Despite economic news affecting the stock and oil markets, the national average for a gallon of regular gasoline fell three cents over the past week to $3.44. This is three cents more than a month ago but 84 cents less than a year ago. Meanwhile, the global oil price plunged into the low to mid $60 per barrel, a level not seen since August 2021.

At the close of Wednesday’s formal trading session, West Texas Intermediate decreased by $3.72 to settle at $67.61. Crude prices have dropped this week amid rising market concerns about the health of the global banking sector. Additionally, the Energy Information Administration (EIA) reported that total domestic commercial crude inventories increased by 1.6 million barrels to 480.1 million barrels last week.

According to new data from EIA, gas demand increased slightly from 8.56 to 8.59 million barrels per day last week. Meanwhile, total domestic gasoline stocks decreased by 2.1 million barrels to 236 million barrels last week. Increasing demand amid tighter supply would typically push pump prices higher; however, lower oil prices have countered this effect.

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.