JEFFERSON CO., Pa. – Gas prices in Western Pennsylvania are one cent higher this week at $3.380 per gallon, according to AAA East Central’s Gas Price Report.
Jefferson County drivers are paying an average of $3.342 per gallon for regular unleaded gasoline. In Clarion County, the standard price is $3.436. The average in Clearfield County is $3.325.
This week’s average prices: Western Pennsylvania Average $3.380
Average price during the week of September 20, 2021 $3.373
Average price during the week of September 28, 2020 $2.537
The average price of unleaded self-serve gasoline in various areas:
$3.354 Altoona
$3.359 Beaver
$3.445 Bradford
$3.342 Brookville
$3.336 Butler
$3.436 Clarion
$3.325 DuBois
$3.442 Erie
$3.299 Greensburg
$3.359 Indiana
$3.360 Jeannette
$3.369 Kittanning
$3.358 Latrobe
$3.443 Meadville
$3.468 Mercer
$3.299 New Castle
$3.350 New Kensington
$3.459 Oil City
$3.341 Pittsburgh
$3.446 Sharon
$3.351 Uniontown
$3.457 Warren
$3.345 Washington
Trend Analysis:
Fall has arrived, but gas prices are still reflecting higher summertime levels instead of taking a seasonal dip. The national average dropped just a penny on the week to $3.18 after matching a seven-year-high in the prior week. The big culprit keeping pump prices high is the price of crude oil, which is above $73 per barrel.
This time of year, consumers typically see some relief at the pump. However, with approximately 16% of crude production in the Gulf of Mexico still shut down because of Hurricanes Ida and Nicholas and the concerns about what higher COVID cases could do to the economy, oil prices remain elevated.
According to new data from the Energy Information Administration (EIA), total domestic gasoline stocks increased by 3.5 million barrels to 221.6 million barrels last week. Gasoline demand remains low at 8.90 million barrels per day, helping to offset some of the upward pressure caused by higher crude oil prices. With the hurricane recovery and restoration process continuing, pump prices may stabilize. However, high crude prices (above $72 per barrel) will contribute to gasoline prices likely remaining elevated this fall.
At the close of Thursday’s formal trading session, WTI increased by 68 cents to settle at $73.98. Crude prices increased on the week following the release of EIA’s recent report showing that total domestic crude inventories decreased by 3.4 million barrels to 414 million barrels. Additionally, crude prices rose after the Federal Reserve signaled it could raise interest rates in 2022 and end its bond-purchase program that has supported the economy since the start of the COVID-19 pandemic. For this week, crude prices could continue to climb if EIA’s next report shows another weekly decline.
Motorists can find current gas prices nationwide, statewide, and countywide at GasPrices.AAA.com.
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