Andy Close
Gas prices are two cents lower in Western Pennsylvania this week at $3.733 per gallon, according to AAA East Central’s Gas Price Report.
This week’s average prices: Western Pennsylvania Average: $3.733
Average price during the week of March 13, 2023: $3.758
Average price during the week of March 21, 2022: $4.311
Warren County drivers are paying an average of $3.797 a gallon for regular unleaded gasoline. Forest County drivers are paying an average of $3.744 a gallon.
The average price of unleaded self-serve gasoline in various areas:
$3.656 Altoona
$3.754 Beaver
$3.808 Bradford
$3.758 Brookville
$3.692 Butler
$3.678 Clarion
$3.714 DuBois
$3.695 Erie
$3.782 Greensburg
$3.751 Indiana
$3.795 Jeannette
$3.756 Kittanning
$3.792 Latrobe
$3.784 Meadville
$3.826 Mercer
$3.603 New Castle
$3.755 New Kensington
$3.796 Oil City
$3.740 Pittsburgh
$3.589 Sharon
$3.658 Uniontown
$3.797 Warren
$3.670 Washington
Trend Analysis:
Despite economic news affecting the stock and oil markets, the national average for a gallon of regular gasoline fell three cents over the past week to $3.44. This is three cents more than a month ago but 84 cents less than a year ago. Meanwhile, the global oil price plunged into the low to mid $60 per barrel, a level not seen since August 2021.
At the close of Wednesday’s formal trading session, West Texas Intermediate decreased by $3.72 to settle at $67.61. Crude prices have dropped this week amid rising market concerns about the health of the global banking sector. Additionally, the Energy Information Administration (EIA) reported that total domestic commercial crude inventories increased by 1.6 million barrels to 480.1 million barrels last week.
According to new data from EIA, gas demand increased slightly from 8.56 to 8.59 million barrels per day last week. Meanwhile, total domestic gasoline stocks decreased by 2.1 million barrels to 236 million barrels last week. Increasing demand amid tighter supply would typically push pump prices higher; however, lower oil prices have countered this effect.
Motorists can find current gas prices nationwide, statewide, and countywide at gasprices.aaa.com.
