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Western PA Gas Prices Trickling Down; Nationwide Trend Bucks Seasonal Norms

Pennsylvania, Gas Prices
Gas pumps by Natalie Maynor
Photo by Natalie Maynor https://www.flickr.com/photos/nataliemaynor/ creativecommons.org/licenses/by/4.0/  

Gas prices in Western Pennsylvania are down by a penny over the week at $3.105 per gallon, 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: Western Pennsylvania Average:  $3.105
Average price during the week of September 24, 2018: $3.118
Average price during the week of October 2, 2017: $2.795

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

$3.055      Altoona
$3.098      Beaver
$3.036      Bradford
$3.178      Brookville
$3.115      Butler
$3.133      Clarion
$3.054      Du Bois
$3.116      Erie
$3.155      Greensburg
$3.029      Indiana
$3.184      Jeannette
$3.191      Kittanning
$3.119      Latrobe
$3.132      Meadville
$3.081      Mercer
$3.027      New Castle
$3.133      New Kensington
$3.123      Pittsburgh
$3.035      Sharon
$3.069      Uniontown
$3.180      Warren
$3.063      Washington


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

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AAA East Central is a member club affiliated with the American Automobile Association (AAA) national federation and serves members in Kentucky, New York, Ohio, Pennsylvania and West Virginia.