Gas prices are a penny higher in Western Pennsylvania this week at $3.489 per gallon, according to AAA East Central’s Gas Price Report.
This week’s average prices: Western Pennsylvania Average $3.489
Average price during the week of Sept. 30, 2024 $3.479
Average price during the week of Oct. 9, 2023 $3.901
The average price of unleaded self-serve gasoline in various areas:
$3.452 Altoona
$3.483 Beaver
$3.771 Bradford
$3.488 Brookville
$3.496 Butler
$3.423 Clarion
$3.475 DuBois
$3.460 Erie
$3.488 Greensburg
$3.489 Indiana
$3.498 Jeannette
$3.533 Kittanning
$3.450 Latrobe
$3.478 Meadville
$3.449 Mercer
$3.397 New Castle
$3.463 New Kensington
$3.494 Oil City
$3.480 Pittsburgh
$3.382 Sharon
$3.479 Uniontown
$3.759 Warren
$3.362 Washington
Trend Analysis:
Despite higher crude oil prices, the national average for a gallon of gas fell by four cents over the past week to $3.17. There are now 18 states east of the Rockies with averages below $3 a gallon. And OPEC+ is saying, at least for now, they will increase production starting December 1st, putting even more downward pressure on pump prices. Today’s national average is 11 cents less than a month ago and 55 cents less than a year ago.
While Hurricane Helene’s devastation did little to impact gasoline supply, it crushed demand in affected areas by destroying infrastructure and causing power outages. Also, the ongoing tensions between Iran and Israel are fueling worries that oil shipments could be disrupted through the Straits of Hormuz, a vital chokepoint for maritime traffic. This has led to oil prices creeping higher.
According to new data from the Energy Information Administration (EIA), gas demand fell from 9.20 million barrels per day last week to 8.52. Meanwhile, total domestic gasoline stocks rose from 220.1 million barrels to 221.2, while gasoline production decreased last week, averaging 9.6 million barrels daily.
At the close of Wednesday’s formal trading session, West Texas Intermediate rose by 27 cents to settle at $70.10 per barrel. The EIA reports that crude oil inventories increased by 3.9 million barrels from the previous week. At 416.9 million barrels, U.S. crude oil inventories are about 4% below the five-year average for this time of year.
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.
