AAA: Gas Prices Continue to Climb in PA

Gas prices are 13 cents higher in Western Pennsylvania this week at $3.863 per gallon, according to AAA East Central’s Gas Price Report. 

This week’s average prices: Western Pennsylvania Average                          $3.863
Average price during the week of July 24, 2023                                                $3.734
Average price during the week of August 1, 2022                                             $4.507

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

$3.883      Altoona
$3.782      Beaver
$3.848      Bradford
$3.896      Brookville
$3.880      Butler
$3.842      Clarion
$3.893      DuBois
$3.873      Erie
$3.884      Greensburg
$3.887      Indiana
$3.894      Jeannette
$3.839      Kittanning
$3.894      Latrobe
$3.883      Meadville
$3.897      Mercer
$3.782      New Castle
$3.868      New Kensington
$3.896      Oil City
$3.827      Pittsburgh
$3.787      Sharon
$3.858      Uniontown
$3.899      Warren
$3.846      Washington

Trend Analysis: 

The national average for a gallon of gas surged 16 cents over the past week to $3.75. The primary cause is the cost of oil, which has increased nearly $4 in the past few days to hover near $80 per barrel.  As oil accounts for almost 50 percent of the cost of a gallon of gas, higher oil prices usually mean higher pump prices. Today’s national average of $3.71 is 21 cents more than a month ago but 47 cents less than a year ago.

According to new data from the Energy Information Administration (EIA), gas demand rose slightly from 8.86 to 8.94 million barrels per day last week. Meanwhile, total domestic gasoline stocks dipped from 218.4 to 217.6 million barrels.

At the close of Wednesday’s formal trading session, West Texas Intermediate decreased by 85 cents to settle at $78.78 before rebounding Thursday morning.  Due to extended repair timelines at refineries, lower refinery oil usage rates typically influence how much oil prices rise. Additionally, the EIA reported that total domestic commercial crude inventories decreased by 600,000 barrels to 456.8 million barrels.

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.