Andy Close
Gas prices are one cent lower in Western Pennsylvania this week at $3.548 per gallon, according to AAA East Central’s Gas Price Report.
Gas prices in Warren County are $3.599.
This week’s average prices: Western Pennsylvania Average $3.548
Average price during the week of December 13, 2021 $3.558
Average price during the week of December 21, 2020 $2.474
The average price of unleaded self-serve gasoline in various areas:
$3.557 Altoona
$3.556 Beaver
$3.599 Bradford
$3.402 Brookville
$3.498 Butler
$3.521 Clarion
$3.540 DuBois
$3.565 Erie
$3.506 Greensburg
$3.563 Indiana
$3.562 Jeannette
$3.532 Kittanning
$3.557 Latrobe
$3.584 Meadville
$3.599 Mercer
$3.499 New Castle
$3.549 New Kensington
$3.599 Oil City
$3.541 Pittsburgh
$3.499 Sharon
$3.582 Uniontown
$3.599 Warren
$3.538 Washington
Trend Analysis:
Gasoline demand surged last week as pre-holiday consumer confidence increased, but the national average for a gallon of gas still dipped three cents to $3.30.
A recovering economy coupled with strong employment is leading to increased demand for gasoline. This demand increase should drive pump prices higher, but the wavering price of crude oil has helped prices to continue to decrease.
At the close of Friday’s formal trading session, West Texas Intermediate decreased by $1.52 to settle at $70.86. Crude prices declined last week due to growing market concerns that the omicron variant of COVID-19 will lead to a decrease in demand as governments around the globe increase measures to curb transmission rates. Additionally, crude prices declined despite EIA’s new data revealing that total domestic crude stocks decreased by 4.6 million barrels to 428.3 million barrels. The current stock level is 14.4 percent lower than mid-December 2020.
According to recent data from the Energy Information Administration (EIA), total domestic gasoline stocks decreased by 700,000 barrels to 218.6 million barrels last week. Meanwhile, gasoline demand increased from 8.96 million barrels per day to 9.47 million barrels per day. Typically, growing demand and tight supply would support rising pump prices; however, fluctuations in the price of crude oil have helped to put downward pressure on prices.
Today’s national average of $3.30 is 11 cents less than a month ago and $1.09 more than a year ago.
Motorists can find current gas prices nationwide, statewide, and countywide at GasPrices.AAA.com.
