Gas prices are one cent lower in Western Pennsylvania this week at $3.562 per gallon, according to AAA East Central’s Gas Price Report.
This week’s average prices: Western Pennsylvania Average $3.562
Average price during the week of November 29, 2021 $3.573
Average price during the week of December 7, 2020 $2.555
The average price of unleaded self-serve gasoline in various areas:
$3.524 New Castle
$3.556 New Kensington
$3.599 Oil City
Trend Analysis: The national average for a gallon of gas dipped 4 cents on the week to $3.35. Pump prices continue to decrease Nationwide as fears of a possible COVID-19 global economic slowdown pushed oil prices into the mid $60s per barrel range, which hasn’t been seen since August.
Also helping to ease oil prices was the decision by OPEC and its oil-producing allies not to cut production. On December 2, OPEC+ announced it would stick to its plan, for now, to raise production by 400,000 b/d in January.
According to new data from the Energy Information Administration (EIA), total domestic gasoline stocks increased by more than 4 million barrels to 215,422 million barrels last week. Meanwhile, gasoline demand dipped from 9.3 million b/d to 8.8 million b/d. The slight decrease in demand also contributed to dipping prices.
Motorists can find current gas prices nationwide, statewide, and countywide at GasPrices.AAA.com.