This week’s average prices: Western Pennsylvania Average $2.967
Average price during the week of February 22, 2021 $2.940
Average price during the week of March 3, 2020 $2.662
The average price of unleaded self-serve gasoline in various areas:
$2.992 Altoona
$2.999 Beaver
$2.999 Bradford
$2.987 Brookville
$2.968 Butler
$2.973 Clarion
$2.972 DuBois
$2.984 Erie
$2.865 Greensburg
$2.998 Indiana
$2.902 Jeannette
$2.985 Kittanning
$2.925 Latrobe
$2.985 Meadville
$2.972 Mercer
$2.888 New Castle
$2.990 New Kensington
$2.996 Oil City
$2.966 Pittsburgh
$2.955 Sharon
$2.985 Uniontown
$2.999 Warren
$2.958 Washington
Trend Analysis:
Gas prices continue to increase, with the national average up nine cents on the week to $2.72. That is a 30 cent increase from the beginning of February, 28 cents more than a year ago and the most expensive daily national average since August 2019.
The latest price jumps are a direct result of February’s winter storm that took 26 U.S. refineries offline and pushed refinery utilization from an average of about 83% down to an atypical low of 68%, according to the Energy Information Administration (EIA). In its latest data, EIA also reported demand at 7.2 million barrels per day. Both utilization and demand rates have not been reported this low since last May.
AAA forecasts the national gas price average to increase in March. However, if refineries resume normal operations, and if crude oil prices show signs of stability, motorists may see some relief at the pump towards the end of the month.
At the close of Friday’s formal trading session, West Texas Intermediate decreased by $2.03 to settle at $61.50. Crude prices rose mid-week despite the EIA’s latest report revealing that total domestic crude inventories increased by 1.3 million barrels last week, bringing the supply level to 463 million barrels. For this week, crude prices could rise if the EIA’s next weekly report shows a decrease in total stocks.
Motorists can find current gas prices nationwide, statewide, and countywide at GasPrices.AAA.com.