Western Pennsylvania Gas Prices Jump Over the Three-Dollar Mark

Pennsylvania
NationalComparison_4-15-19

After increasing by 11 cents last week, the average price of gasoline across Western Pennsylvania is another 13 cents more expensive this week at $3.042 per gallon, according to AAA East Central’s Gas Price Report. 

As the region sees gasoline stocks tighten on the week, a handful of Mid-Atlantic and Northeast states saw significant increases at the pump, including Pennsylvania (+9 cents).  Year-over-year, most states in the region have more expensive gas price averages. 

With a 3.2-million-barrel draw, the region saw the largest decrease in gasoline stocks of any in the country for the week ending April 5.  According to Energy Information Administration (EIA) data, total stocks now sit at 60.2 million, which is the lowest level of the year but on par with levels this time last year.  Regional refinery utilization remains at 79 percent, but that is expected to increase throughout this month.

This week’s average prices: Western Pennsylvania Average               $3.042
Average price during the week of April 8, 2019                                      $2.919
Average price during the week of April 16, 2018                                    $2.928

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

$2.940      Altoona
$2.968      Beaver
$2.931      Bradford
$3.165      Brookville
$2.998      Butler
$3.093      Clarion
$3.021      Du Bois
$3.084      Erie
$3.061      Greensburg
$3.093      Indiana
$3.084      Jeannette
$3.097      Kittanning
$3.063      Latrobe
$3.089      Meadville
$3.026      Mercer
$2.939      New Castle
$3.081      New Kensington
$3.066      Pittsburgh
$2.936      Sharon
$3.084      Uniontown
$3.099      Warren
$3.014      Washington


On the National Front 
Pump prices on the West Coast increased as much as 20 cents this past week, driving the national average up nearly 10 cents to $2.83 on the week.  As stocks tighten out West due to unplanned and planned maintenance, California’s average jumped to $4.00, the most expensive state average this week and a price point not seen in the Golden State since July 2014.  Nationwide, as gasoline supplies decrease and demand measures at summer-levels, gas prices are also increasing throughout the rest of the country.

At the close of Friday’s formal trading session on the NYMEX, West Texas Intermediate increased 31 cents to settle at $63.89.  Oil prices increased last week, and will likely continue their ascent this week, as a weaker dollar helped to push crude prices up because of the increased number of dollars needed to purchase crude on the global market.  Another contributing factor to the price jumps came from reports that there was a 534,000-b/d decline in crude production by OPEC members in March.  The news underscores that OPEC and its partners are making reductions in service consistent with their 1.2 million b/d production reduction agreement, which is in place through June.  

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