Drivers See Highest Thanksgiving Gas Prices on Record

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Gas prices are two cents cheaper in Western Pennsylvania this week at $4.020 per gallon, according to AAA East Central’s Gas Price Report, but the Thanksgiving national average is the highest on record since AAA started keeping track in 2000.

The average price for a gallon of gas in Warren is $4.158.

This week’s average prices: Western Pennsylvania Average $4.020
Average price during the week of November 14, 2022 $4.045
Average price during the week of November 22, 2021 $3.582

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

$4.151 Altoona
$3.994 Beaver
$4.159 Bradford
$3.706 Brookville
$3.975 Butler
$4.059 Clarion
$4.098 DuBois
$4.083 Erie
$3.965 Greensburg
$3.978 Indiana
$3.948 Jeannette
$3.944 Kittanning
$3.996 Latrobe
$4.150 Meadville
$4.122 Mercer
$3.949 New Castle
$3.994 New Kensington
$4.159 Oil City
$3.986 Pittsburgh
$4.019 Sharon
$3.949 Uniontown
$4.158 Warren
$3.915 Washington

Trend Analysis:

Drivers fueling up ahead of Thanksgiving will benefit from falling pump prices. The national average for a gallon of gasoline dropped 11 cents in the past week to $3.66. While prices are lower, this week will see the highest Thanksgiving national average price since AAA started keeping records in 2000. Today’s national average is 26 cents more than a year ago.

According to data from the Energy Information Administration (EIA), gas demand fell from 9.01 million to 8.74 million b/d last week. Meanwhile, total domestic gasoline stocks rose by nearly 2.2 million barrels to 207.9 million barrels. Increasing supply and fewer drivers fueling up have pushed pump prices lower.

At the close of Friday’s formal trading session, West Texas Intermediate decreased by $1.56 to settle at $80.08. Crude prices dropped last week despite the EIA reporting that total domestic commercial crude stocks fell dramatically by 5.4 million barrels. Instead, prices declined because the market is concerned that oil demand could decrease due to growing economic concerns.

Motorists can find current gas prices nationwide, statewide, and countywide at gasprices.aaa.com.