AAA: Gas Prices Steady in Western PA as National Average Dips

Gas prices are stable in Western Pennsylvania this week at $3.655 per gallon, according to AAA East Central’s Gas Price Report.

This week’s average prices: Western Pennsylvania Average                          $3.655
Average price during the week of June 12, 2023                                               $3.652
Average price during the week of June 21, 2022                                               $5.007

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

$3.692      Altoona
$3.723      Beaver
$3.703      Bradford
$3.521      Brookville
$3.668      Butler
$3.654      Clarion
$3.424      DuBois
$3.671      Erie
$3.675      Greensburg
$3.698      Indiana
$3.704      Jeannette
$3.701      Kittanning
$3.685      Latrobe
$3.678      Meadville
$3.712      Mercer
$3.504      New Castle
$3.688      New Kensington
$3.699      Oil City
$3.700      Pittsburgh
$3.504      Sharon
$3.581      Uniontown
$3.699      Warren
$3.633      Washington

Trend Analysis: 

As summer begins, drivers are finding prices significantly lower than last year.  Lackluster demand and low oil costs are keeping gas prices relatively stable.  The national average for a gallon of gas fell two cents since last week to $3.57. That’s $1.41 less than a year ago with 20 gallons of gas costing nearly $30 less than last year.

According to new data from the Energy Information Administration (EIA), gas demand decreased slightly from 9.22 to 9.19 million barrels per day last week. Meanwhile, total domestic gasoline stocks increased by 2.1 million barrels to 220.9 million barrels. Lower gas demand amid increasing supply has helped to limit pump price increases.

At the close of Wednesday’s formal trading session, West Texas Intermediate decreased by $1.15 to settle at $68.27. Oil prices declined due to market concerns about the U.S. Federal Reserve resuming interest rate increases, which could tip the economy into a recession. Additionally, the EIA reported that total domestic commercial crude inventories increased significantly by 7.9 million barrels to 467.1 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 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.