JEFFERSON COUNTY, Pa. — Gas prices are two cents cheaper in Western Pennsylvania this week at $3.633 per gallon, according to AAA East Central’s Gas Price Report.
(Photo by Dave Cyphert / ProPoint Media Photography.)
This week’s average prices: Western Pennsylvania Average: $3.633
Average price during the week of March 4, 2024: $3.655
Average price during the week of March 13, 2023: $3.758
Jefferson County drivers are paying an average of $3.631 a gallon for regular unleaded gasoline. In Clarion County, the standard price is $3.541. The average in Clearfield County is $3.???.
The average price of unleaded self-serve gasoline in various areas:
$3.585 Altoona
$3.662 Beaver
$3.620 Bradford
$3.602 Brookville
$3.600 Butler
$3.543 Clarion
$3.667 DuBois
$3.621 Erie
$3.640 Greensburg
$3.681 Indiana
$3.663 Jeannette
$3.570 Kittanning
$3.670 Latrobe
$3.655 Meadville
$3.697 Mercer
$3.505 New Castle
$3.549 New Kensington
$3.696 Oil City
$3.629 Pittsburgh
$3.679 Sharon
$3.676 Uniontown
$3.698 Warren
$3.644 Washington
Trend Analysis:
Pump prices continue to trend upward, rising four cents since last week to $3.39. More expensive oil is resulting in higher gas prices as crude accounts for nearly 60% of the cost of a gallon of gas.
The price of a barrel of oil is edging closer to $80, about $10 more per barrel than a few months ago. As spring approaches with longer days and better weather, gasoline demand typically rises which also causes gas prices to increase. Today’s national average of $3.39 is 21 cents higher than a month ago but eight cents less than a year ago.
According to new data from the Energy Information Administration (EIA), gas demand jumped from 8.47 to 9.01 million barrels per day last week. Meanwhile, total domestic gasoline stocks tightened by 4.5 million barrels to 239.7 million barrels. Growing gas demand, amid tighter supply, has pushed pump prices higher.
At the close of Wednesday’s formal trading session, West Texas Intermediate increased by 98 cents to settle at $79.13. Oil prices rose amid increased market optimism after U.S. Federal Reserve Chair Jerome Powell noted that interest rates are still expected to be cut later this year. Moreover, the EIA reported that total domestic commercial crude stocks increased by 1.3 million barrels to 448.5 million barrels last week. Last week, the Organization of Petroleum Exporting Countries and its allies, including Russia, collectively known as OPEC+, extended their agreement to reduce production by 2.2 million barrels per day into the second quarter of 2024.
Motorists can find current gas prices nationwide, statewide, and countywide at gasprices.aaa.com.
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