The average price of gasoline across Western Pennsylvania is two cents cheaper this week at $3.085 per gallon, according to AAA East Central’s Gas Price Report.
On the week, every state in the Mid-Atlantic and Northeast region is paying less at the pump, with prices as much as six cents cheaper than last Monday. Pennsylvania ($3.02) carries the most expensive, and Tennessee ($2.57) carries the least expensive gasoline in the region.
With a nearly 1.1-million-barrel build, gasoline stock levels for the region measure at 60.6 million. Energy Information Administration (EIA) data reports this is the highest level since the end of March. The build, which was due in part to imports, helped to stabilize prices in the region on the week as regional refinery utilization plummeted from 92.5 to 83.9%. Refinery reports show that unplanned and planned maintenance is wrapping up, which should help to push utilization back up in coming weeks.
This week’s average prices: Western Pennsylvania Average $3.085
Average price during the week of May 6, 2019 $3.103
Average price during the week of May 14, 2018 $3.059
The average price of unleaded self-serve gasoline in various areas:
$2.905 Altoona
$3.034 Beaver
$3.099 Bradford
$3.050 Brookville
$3.089 Butler
$3.093 Clarion
$2.980 Du Bois
$3.129 Erie
$3.092 Greensburg
$3.065 Indiana
$3.157 Jeannette
$3.166 Kittanning
$3.052 Latrobe
$3.147 Meadville
$3.111 Mercer
$2.996 New Castle
$3.139 New Kensington
$3.148 Pittsburgh
$3.107 Sharon
$3.077 Uniontown
$3.159 Warren
$3.070 Washington
Gas prices are decreasing despite the Energy Information Administration’s (EIA) latest reports which show an increase in demand to summer-like levels and a decrease in gasoline stocks. The move to cheaper gas prices indicates that demand and supply are potentially leveling out. Though prices have been declining, there are factors that could quickly push up prices in the coming weeks, including the impact of Chinese tariffs, weather, a major draw in gasoline stock levels, a spike in demand or the volume of Memorial Day weekend travel. Pump price movements this week will indicate if motorists will continue to see cheaper gas prices or if this was just a one-week fad.
At the close of Friday’s formal trading session on the NYMEX, West Texas Intermediate decreased four cents to settle at $61.66. On the week, crude prices have moved lower because of global concerns around trade negotiations between the U.S. and China. This, plus reports that two Saudi oil tankers were attacked in the Strait of Hormuz are likely to keep prices volatile this week.
Motorists can find current gas prices nationwide, statewide, and countywide at GasPrices.AAA.com.