Gas prices in Western Pennsylvania are down by two cents over the week to $3.087 per gallon, according to AAA East Central’s Gas Price Report.
Gas prices are as much as five cents cheaper on the week across the Mid-Atlantic and Northeast states. Looking at prices compared to a month ago, most states in the region are seeing cheaper pump prices – as much as four cents less. On the other hand, six states are paying more, including Pennsylvania (+1 cent).
Gasoline inventory sits at a healthy 66.3 million barrels with the Energy Information Administration (EIA) reporting a small 148,000 barrel draw in their latest report. Despite the region seeing a 2 million barrel surplus year-over-year, gas prices are more than 50-cents higher than last summer. The strong inventory levels may help to stabilize or drop gas prices in the coming week.
This week’s average prices: Western Pennsylvania Average: $3.087 compared to $3.107 last week. Average price during the week of July 24, 2017 was $2.542.
This KP File Photo showed local gas prices in 2015 of $2.37 per gallon. Prices went up more than 50-cents in the past year.
The average price of unleaded self-serve gasoline in various areas:
$3.030 Altoona
$3.096 Beaver
$3.069 Bradford
$3.160 Brookville
$3.087 Butler
$3.091 Clarion
$2.978 Du Bois
$3.075 Erie
$3.119 Greensburg
$3.079 Indiana
$3.158 Jeannette
$3.145 Kittanning
$3.109 Latrobe
$3.090 Meadville
$3.104 Mercer
$3.040 New Castle
$3.072 New Ken
$3.111 Pittsburgh
$3.017 Sharon
$3.067 Uniontown
$3.143 Warren
$3.065 Washington
Nationally, volatility is the trend for July gas prices as the rate for crude oil rises and drops amid lingering geopolitical concerns. In the U.S., the first half of the month saw pump prices increase from $2.85 to $2.89, while the second half is proving cheaper with the national gas price average down to $2.84 today. The national average has not been this low since early May. If demand and supply stay consistent, prices have the potential to stabilize barring any major events – such as geopolitical or natural occurrences.
Today’s national gas price average is four cents cheaper than last week, two cents cheaper than last month, but 57-cents more expensive than a year ago.
Motorists can find current gas prices nationwide, statewide, and countywide at GasPrices.AAA.com.