AAA: Western PA Gas Prices Accelerate; Crude Tops $80 per Barrel

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Gas prices in Western Pennsylvania are six cents higher this week at $3.446 per gallon, according to AAA East Central’s Gas Price Report.

This week’s average prices: Western Pennsylvania Average $3.446
Average price during the week of October 4, 2021 $3.380
Average price during the week of October 12, 2020 $2.542

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

$3.451 Altoona
$3.439 Beaver
$3.557 Bradford
$3.493 Brookville
$3.378 Butler
$3.524 Clarion
$3.413 DuBois
$3.534 Erie
$3.297 Greensburg
$3.362 Indiana
$3.363 Jeannette
$3.467 Kittanning
$3.358 Latrobe
$3.554 Meadville
$3.569 Mercer
$3.403 New Castle
$3.357 New Kensington
$3.546 Oil City
$3.366 Pittsburgh
$3.510 Sharon
$3.380 Uniontown
$3.559 Warren
$3.375 Washington

Trend Analysis:

The national average price for a gallon of gas increased eight cents on the week to reach $3.27. This is the highest price since October 2014. The key driver for this recent rise in the price of gas is crude oil, which typically accounts for between 50% and 60% of the price at the pump. For the last several days, the cost of crude oil has been over $80 per barrel. And last week’s decision by OPEC and its oil-producing allies to not increase production further only exacerbated the upward momentum for crude oil prices.

According to new EIA data, total domestic gasoline stocks increased by 3.3 million barrels to 225.1 million barrels last week. Gasoline demand also increased slightly from 9.40 million barrels per day to 9.44 million barrels per day. This increase in gas demand aided in the national average’s rise.

Meanwhile, an October 1st breach and spill in a key pipeline supplying fuel to parts of the southeastern U.S. led to tightened regional supplies. Kinder Morgan Inc. (KMI) originally said it expected repairs to its southeastern products pipeline to be completed October 9, with a restart afterward. The repairs were slowed by the recent heavy rain and flooding around Birmingham, Alabama. The pipeline serves various metropolitan areas including Birmingham, Alabama; Atlanta, Georgia; Charlotte, North Carolina; and Washington, D.C.

Today’s national average of $3.27 is 10 cents more than a month ago, $1.09 more than a year ago, and 63 cents more than pre-pandemic in 2019.

Motorists can find current gas prices nationwide, statewide, and countywide at GasPrices.AAA.com.