Susquehanna Valley Gas Prices Steady; Nationwide Trend Bucks Seasonal Norms

News Topics, Pennsylvania, Gas Prices
Choosing gas octane by Mike Mozart
Photo by Mike Mozart https://www.flickr.com/photos/jeepersmedia/ creativecommons.org/licenses/by/4.0/  

Susquehanna Valley gas prices are holding at $3.060 per gallon this week, according to AAA East Central’s Gas Price Report.

States in the Mid-Atlantic and Northeast region are seeing fluctuation on the week.  For most states, that means small jumps or declines of a few pennies (Pennsylvania prices remain unchanged).

With the addition of 1.6 million barrels, gasoline inventories sit at their highest level (67.4 million) for the Mid-Atlantic and Northeast this year.  The large increase helped to minimize gas price increases for most states.  The last time levels exceeded the 67.4 million barrels was mid-June 2017.

This week’s average prices: Susquehanna Valley Average:  $3.060
Average price during the week of September 24, 2018:  $3.064
Average price during the week of October 2, 2017: $2.762

Average prices of unleaded self-serve gasoline in various areas: 

$3.099            Elysburg
$3.023            Lewisburg
$3.026            Mifflinburg
$3.037            Milton
$3.054            Mount Carmel
$3.099            Selinsgrove
$3.044            Shamokin
$3.099            Sunbury

On the National Front
Despite gasoline demand dropping to 9.0 million b/d and inventories growing to 235.7 million barrels, according to the latest Energy Information Administration (EIA) data, the national gas price average has increased three cents on the week to land at $2.88 – a pump price not seen at the national average since mid-July. 

This time of year, motorists are accustomed to seeing prices drop steadily, but due to continued global supply and demand concerns as well as very expensive summertime crude oil prices, motorists are not currently seeing much relief at the pump yet.  Today’s national gas price average ($2.88) is the most expensive for the beginning of October since 2014.  The average is four cents more than a month ago and 32 cents more than a year ago.

At the close of Friday’s formal trading session on the NYMEX, West Texas Intermediate increased $1.13 to settle at $73.25.  Crude prices rallied last week due to concerns around the impact of U.S.-imposed sanctions on Iran and economic collapse in Venezuela on global crude supply this fall.  The increase in crude prices occurred despite inventories increasing to 396 million barrels last week after five consecutive weeks of decline, according to EIA’s report for the week ending on September 21.  Domestic crude inventories are now roughly 75 million barrels lower than were they were at this time last year.  

Motorists can find current gas prices nationwide, statewide, and countywide at GasPrices.AAA.com.

AAA East Central is a not-for-profit association with 80 local offices in Kentucky, New York, Ohio, Pennsylvania and West Virginia serving 2.7 million members.  News releases are available at news.eastcentral.aaa.com.  Follow us on Twitter and Facebook.

For More Information, Contact:
Jim Garrity, Public & Community Relations Manager
Desk: 412-365-7274 / Cell: 412-905-9021 / Email: Garrity.James@aaaec.com

-AAA-