Gas prices are eight cents lower in Western Pennsylvania this week at $3.528 per gallon, according to AAA East Central’s Gas Price Report.
This week’s average prices: Western Pennsylvania Average $3.528
Average price during the week of December 4, 2023 $3.603
Average price during the week of December 12, 2022 $3.867
The average price of unleaded self-serve gasoline in various areas:
$3.481 Altoona
$3.597 Beaver
$3.686 Bradford
$3.407 Brookville
$3.536 Butler
$3.587 Clarion
$3.479 DuBois
$3.474 Erie
$3.579 Greensburg
$3.550 Indiana
$3.546 Jeannette
$3.692 Kittanning
$3.555 Latrobe
$3.406 Meadville
$3.537 Mercer
$3.326 New Castle
$3.541 New Kensington
$3.506 Oil City
$3.564 Pittsburgh
$3.399 Sharon
$3.546 Uniontown
$3.644 Warren
$3.498 Washington
Trend Analysis:
As the holiday season continues, the national average for a gallon of gas has fallen nine cents since last week to $3.15. The main reason is a weaker cost for oil, which is struggling to stay above $70 per barrel. The falling price comes just a week after OPEC+ announced voluntary production cuts of about 2 million barrels daily. More than half of all US fuel locations have gasoline below $3 per gallon. Today’s national average is 22 cents lower than a month ago and 12 cents lower than a year ago.
According to new data from the Energy Information Administration (EIA), gas demand increased slightly from 8.21 to 8.47 million barrels per day last week. Meanwhile, total domestic gasoline stocks increased significantly by 5.4 million barrels to 223.6 million barrels. Lower gas demand and supply growth have helped push pump prices lower.
At the close of Wednesday’s formal trading session, West Texas Intermediate decreased by $2.94 to settle at $69.38. Oil prices dropped due to market concerns that lackluster demand could continue to push supply up while prices slide through the remainder of 2023. Additionally, the EIA reported that total domestic commercial crude inventories decreased by 4.7 million barrels to 445 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.