Western Pennsylvania Gas Prices Drop Below Three-Dollar Mark

Pennsylvania, Gas Prices
NationalComparison_6-10-19

The average price of gasoline across Western Pennsylvania is eight cents cheaper this week at $2.925 per gallon, according to AAA East Central’s Gas Price Report. 

Driving through the Mid-Atlantic and Northeast region, motorists will find gas prices on average at $2.65 with the most expensive at $2.89 in Pennsylvania, New York and Connecticut. The cheapest price is $2.42 in Tennessee.

Gas price declines this week were supported by a sizeable build in gasoline stocks – nearly 1.9 million barrels, bumping total inventories to 65.1 million bbl.  In addition, regional utilization pushed up for a second week to nearly 94%.  These moves will help to keep gas prices stable for now, and potentially move them cheaper in the month ahead.

This week’s average prices: Western Pennsylvania Average               $2.925
Average price during the week of June 3, 2019                                      $3.001
Average price during the week of June 11, 2018                                    $3.124

The average price of unleaded self-serve gasoline in various areas:      

$2.682      Altoona
$2.965      Beaver
$2.997      Bradford
$3.024      Brookville
$2.752      Butler
$2.990      Clarion
$2.899      Du Bois
$2.917      Erie
$2.912      Greensburg
$2.921      Indiana
$2.978      Jeannette
$3.021      Kittanning
$2.873      Latrobe
$2.916      Meadville
$3.048      Mercer
$2.779      New Castle
$2.937      New Kensington
$2.963      Pittsburgh
$2.923      Sharon
$2.940      Uniontown
$2.998      Warren
$2.908      Washington


On the National Front 
Nearly every state’s gas price average is cheaper than a week ago, a month ago and a year ago. Today’s national average is $2.74, which is seven-cents cheaper than last week, 13-cents less than a month ago and 18 cents cheaper than a year ago.  Refinery utilization in the United States is at its highest level since early January, resulting in overall gasoline stocks at healthy levels to meet robust summer demand.  This, combined with cheaper crude oil, is bringing prices down nationwide.

At the close of Friday’s formal trading session on the NYMEX, West Texas Intermediate increased by $1.40 to settle at $53.99.  Crude prices increased on Friday after Saudi Arabia's Energy Minister Khalid al-Falih announced that OPEC and its partners are close to an agreement to extend their current 1.2-million b/d production reduction pact through the end of 2019.  The cartel is expected to formally announce its decision at its upcoming meeting in Vienna on June 25 and 26.

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