Gas prices are seven cents higher in Western Pennsylvania this week at $3.757 per gallon, according to AAA East Central’s Gas Price Report.
This week’s average prices: Western Pennsylvania Average $3.757
Average price during the week of April 3, 2023 $3.683
Average price during the week of April 11, 2022 $4.249
The average price of unleaded self-serve gasoline in various areas:
$3.780 Altoona
$3.742 Beaver
$3.795 Bradford
$3.785 Brookville
$3.787 Butler
$3.756 Clarion
$3.782 DuBois
$3.769 Erie
$3.765 Greensburg
$3.795 Indiana
$3.785 Jeannette
$3.768 Kittanning
$3.797 Latrobe
$3.784 Meadville
$3.820 Mercer
$3.693 New Castle
$3.785 New Kensington
$3.791 Oil City
$3.777 Pittsburgh
$3.799 Sharon
$3.783 Uniontown
$3.798 Warren
$3.765 Washington
Trend Analysis:
OPEC’s announcement last weekend that it will cut production by over a million barrels per day took the oil market by surprise. In response, crude immediately surged well above $80 a barrel, although it has since struggled to stay above that mark. Meanwhile, the national average for a gallon of regular gasoline rose 10 cents since last week to hit $3.60. Today’s national average is 13 cents more than a month ago but 51 cents less than a year ago.
According to new data from the Energy Information Administration (EIA), gas demand increased slightly from 9.15 to 9.3 million barrels per day last week. Meanwhile, total domestic gasoline stocks decreased substantially by 4.1 million barrels to 222.6 million barrels. Increased demand amid tighter supply has contributed to pushing pump prices higher.
At the close of Wednesday’s formal trading session, West Texas Intermediate decreased by 10 cents to settle at $80.61. Oil prices declined slightly due to market concerns that a recession could occur this year. Earlier in the week, crude prices spiked after the Organization of Petroleum Exporting Countries and its allies, including Russia, collectively known as OPEC+, announced it would cut production by 1.6 million barrels starting next month for the remainder of 2023. Additionally, the EIA reported that total domestic commercial crude inventories decreased by 3.7 million barrels to 470 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.
