JEFFERSON CO., Pa. – The average price of gasoline across Western Pennsylvania is two cents cheaper this week at $2.458 per gallon, according to AAA East Central’s Gas Price Report.
Jefferson County drivers are paying an average of $2.482 per gallon for regular unleaded gasoline. In Clarion County, the standard price is $2.470. The average in Clearfield County is $2.476.
On the week, North Carolina (-3 cents), West Virginia (-2 cents), and Maine (+2 cents) saw the largest swings at the pump in the Mid-Atlantic and Northeast states. All other regional state averages increased or decreased by a penny, while others saw no change at all. Gas prices in the region range from $2.00 in Virginia to $2.43 in Pennsylvania.
Stock levels declined for a third week, this time by 1.3 million barrels. At 71 million barrels, total stocks are at their lowest point since May. However, levels are at an 11.5 million barrel year-over-year surplus, according to Energy Information Administration (EIA) data. Regional refinery rates have averaged about 50% since early May, which is helping to keep stock levels at very healthy levels and yielding minimal gas price fluctuation.
This week’s average prices: Western Pennsylvania Average $2.458
Average price during the week of July 13, 2020 $2.473
Average price during the week of July 22, 2019 $2.975
The average price of unleaded self-serve gasoline in various areas:
$2.493 Altoona
$2.434 Beaver
$2.498 Bradford
$2.482 Brookville
$2.446 Butler
$2.470 Clarion
$2.476 DuBois
$2.486 Erie
$2.402 Greensburg
$2.499 Indiana
$2.439 Jeannette
$2.445 Kittanning
$2.441 Latrobe
$2.490 Meadville
$2.508 Mercer
$2.372 New Castle
$2.460 New Kensington
$2.497 Oil City
$2.446 Pittsburgh
$2.485 Sharon
$2.423 Uniontown
$2.499 Warren
$2.344 Washington
On the National Front
The national gas price average held steady on the week at $2.19 as one-third of states saw gas prices decrease and only 10 states saw gas prices increase by two to four cents. State averages saw minimal fluctuation as demand roughly held steady over the last four weeks.
At 8.6 million b/d, the EIA measures demand at a 1% decrease week-over-week, 9% increase month-over-month and a 6% decrease year-over-year. Meanwhile, gasoline stocks measure at a 1% weekly decline, a 3% decrease month-over-month, but a 7% increase compared to last year.
At the end of Friday’s formal trading session, West Texas Intermediate decreased by 16 cents to settle at $40.59 per barrel. Domestic crude prices fell after the EIA’s weekly report revealed that total domestic crude inventories decreased by 7.5 million barrels to 531.7 million barrels. Decreasing crude stocks could mean that crude production is beginning to meet demand, which could help stabilize crude prices this week.
Motorists can find current gas prices nationwide, statewide, and countywide at GasPrices.AAA.com.
Copyright © 2024 EYT Media Group, Inc. All rights reserved. Any copying, redistribution or retransmission of the contents of this service without the express written consent of EYT Media Group, Inc. is expressly prohibited.
