Gas prices are eight cents higher in Western Pennsylvania this week at $3.968 per gallon, according to AAA East Central’s Gas Price Report.
This week’s average prices: Western Pennsylvania Average: $3.968
Average price during the week of October 3, 2022: $3.887
Average price during the week of October 11, 2021: $3.466
Warren County drivers are paying an average of $3.999 a gallon for regular unleaded gasoline. In Venango County, the standard price is $3.989. Forest County drivers are paying an average of $4.049 a gallon.
The average price of unleaded self-serve gasoline in various areas:
$3.905 New Castle
$3.993 New Kensington
$3.999 Oil City
The national average pump price for a gallon of gas rose 12 cents over the past week to hit $3.91. Today’s national average is 19 cents higher than a month ago and 65 cents more than a year ago. Higher crude prices and increased domestic demand are the main factors currently affecting gas prices.
The OPEC+ recent announcement that the group of oil-producing nations would slash output by 2 million barrels per day led to the price of oil creeping above $90 a barrel for the first time in several weeks. At the close of Friday’s formal trading session, West Texas Intermediate increased by $4.19 to settle at $92.64. Additionally, according to new data from the Energy Information Administration (EIA), total domestic crude inventories declined by 1.4 million barrels to 429.2 million barrels.
EIA’s latest weekly report also showed gas demand increased nationally from 8.83 million barrels per day to 9.47 million barrels per day last week. Total domestic gasoline stocks decreased significantly by 4.7 million barrels to 207.5 million barrels. High gasoline demand, amid tight supply, has led to higher pump prices nationwide.
Motorists can find current gas prices nationwide, statewide, and countywide at GasPrices.AAA.com.