AAA: Cheaper Oil, Higher Inventory Keeping Gas Prices Cool in PA

Gas prices are a penny lower in Western Pennsylvania this week at $3.652 per gallon, according to AAA East Central’s Gas Price Report.

This week’s average prices: Western Pennsylvania Average                          $3.652
Average price during the week of June 5, 2023                                                 $3.664
Average price during the week of June 13, 2022                                               $5.029

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

$3.692      Altoona
$3.731      Beaver
$3.701      Bradford
$3.514      Brookville
$3.667      Butler
$3.655      Clarion
$3.436      DuBois
$3.669      Erie
$3.693      Greensburg
$3.698      Indiana
$3.704      Jeannette
$3.702      Kittanning
$3.691      Latrobe
$3.682      Meadville
$3.709      Mercer
$3.504      New Castle
$3.698      New Kensington
$3.691      Oil City
$3.707      Pittsburgh
$3.498      Sharon
$3.631      Uniontown
$3.698      Warren
$3.647      Washington

Trend Analysis: 

For the first time since 2021, domestic gasoline demand was above 9 million barrels daily for a third straight week. Yet despite the robust numbers, pump prices barely budged in most of the country. The national average for a gallon of gas dipped a penny since last week to $3.56, which is three cents more than a month ago but $1.39 less than a year ago.

According to new data from the Energy Information Administration (EIA), gas demand increased slightly from 9.1 to 9.22 million b/d last week. Meanwhile, total domestic gasoline stocks rose by 2.7 million barrels to 218.8 million barrels. Although gas demand increased, increasing stocks and lower oil prices have contributed to limiting increases. At the close of Wednesday’s formal trading session, West Texas Intermediate increased by 79 cents to settle at $72.53. Today, it’s hovering around $67 per barrel.

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

AAA East Central is a not-for-profit association with 69 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.