Gas prices are three cents higher in Western Pennsylvania this week at $3.990 per gallon, according to AAA East Central’s Gas Price Report.
This week’s average prices: Western Pennsylvania Average: $3.990
Average price during the week of October 10, 2022: $3.968
Average price during the week of October 18, 2021: $3.516
Warren County drivers are paying an average of $3.998 a gallon for regular unleaded gasoline. In Venango County, the standard price is $3.981, while Forest County drivers are paying an average of $4.034 a gallon.
The average price of unleaded self-serve gasoline in various areas:
$3.959 New Castle
$3.992 New Kensington
$3.999 Oil City
The national average pump price for a gallon of gas decreased three cents over the past week to hit $3.88. Lower gasoline demand, amid increasing supply and fluctuating oil prices, has contributed to the national average moving downward. Today’s national average is 20 cents higher than a month ago and 56 cents more than a year ago.
At the close of Friday’s formal trading session, West Texas Intermediate decreased by $3.50 to settle at $85.61. Concerns regarding a possible global economic recession led to a drop in the price of crude which helped to minimize pump price increases last week. Additionally, the Energy Information Administration (EIA) reported total commercial crude inventories increased by 9.9 million barrels to 439.1 million barrels.
Meanwhile, domestic gasoline demand decreased as fewer drivers fueled up in the first half of October. According to EIA, gas demand decreased nationally from 9.47 million barrels per day to 8.28 million barrels per day, and total domestic gasoline stocks increased by 2 million barrels to 209.5 million barrels.
Motorists can find current gas prices nationwide, statewide, and countywide at GasPrices.AAA.com.