Andy Close
Gas prices are steady in Western Pennsylvania this week at $3.743 per gallon, according to AAA East Central’s Gas Price Report.
Warren drivers are paying an average of $3.799 per gallon
The average price of unleaded self-serve gasoline in various areas:
$3.796 Altoona
$3.796 Beaver
$3.761 Bradford
$3.703 Brookville
$3.754 Butler
$3.761 Clarion
$3.735 DuBois
$3.728 Erie
$3.735 Greensburg
$3.750 Indiana
$3.680 Jeannette
$3.788 Kittanning
$3.756 Latrobe
$3.744 Meadville
$3.799 Mercer
$3.689 New Castle
$3.754 New Kensington
$3.759 Oil City
$3.711 Pittsburgh
$3.749 Sharon
$3.696 Uniontown
$3.799 Warren
$3.595 Washington
Trend Analysis:
The national average for a gallon of gas rose five cents over the past week to $3.32. Today’s average is 17 cents more than a month ago and a penny more than a year ago. Shorter days and winter weather are combining to lower gasoline demand, but the price of oil rose as worries of a global economic recession eased. The main factor in this week’s increase is the higher cost of oil which accounts for more than half of the cost of a gallon of gas.
According to data from the Energy Information Administration, gas demand barely budged last week, rising slightly from 7.51 million barrels per day to 7.56 barrels per day. Meanwhile, total domestic gasoline stocks rose from 222.7 million barrels to 226.8 million barrels. Flat gasoline demand and increased supply are contributing to limited pump price increases.
At the close of Friday’s formal trading session, West Texas Intermediate increased by $1.47 to settle at $79.86. A lower dollar helped to push crude prices higher at the end of last week. Additionally, after China increased quotas for oil purchases this year, the market rallied as a sign that crude oil demand may be more robust than anticipated.
Motorists can find current gas prices nationwide, statewide, and countywide at gasprices.aaa.com.
