CLARION CO., Pa. (EYT) – The average price of gasoline across Western Pennsylvania is stable this week at $2.345 per gallon, according to AAA East Central’s Gas Price Report.
Jefferson County drivers are paying an average of $2.359 per gallon for regular unleaded gasoline. In Clarion County, the standard price is $2.337. The average in Clearfield County is $2.328.
The Mid-Atlantic and Northeast region continues to see the lowest pump price volatility. While gas prices increased across the region on the week, they only pushed more expensive by a few pennies (Pennsylvania, +2 cents). Delaware (+5 cents) and Maine (+7 cents) saw the largest increases.
Gas prices in the region range from $1.76 to $2.25, with motorists able to fill up for $1.99 or less at 63% of stations in the region.
The Energy Information Administration (EIA) reports regional gasoline stocks increased by 500,000 barrels to push total levels to 74.2 million. Motorists can expect pump prices to continue to trend more expensive, but with increases of only a few cents.
This week’s average prices: Western Pennsylvania Average $2.345
Average price during the week of June 1, 2020 $2.343
Average price during the week of June 10, 2019 $2.925
The average price of unleaded self-serve gasoline in various areas:
$2.356 Altoona
$2.347 Beaver
$2.350 Bradford
$2.359 Brookville
$2.312 Butler
$2.337 Clarion
$2.328 DuBois
$2.336 Erie
$2.347 Greensburg
$2.352 Indiana
$2.366 Jeannette
$2.370 Kittanning
$2.349 Latrobe
$2.348 Meadville
$2.370 Mercer
$2.248 New Castle
$2.348 New Kensington
$2.359 Oil City
$2.338 Pittsburgh
$2.359 Sharon
$2.347 Uniontown
$2.359 Warren
$2.345 Washington
On the National Front
For 66 days, the national gas price average held below the $2/gallon mark, pushing as cheap as $1.76. In the past week, the average has inched up to $2.03. Despite the consistent increases at the pump, gas prices are still significantly cheaper year-over-year, and haven’t been this cheap at the beginning of June since 2004. In fact, during the first week of June the past five years, gas prices have typically averaged $2.81.
U.S. gasoline demand continues to show increasing strength. The EIA’s latest reading shows a 4% weekly increase at 7.5 million b/d. That is the highest demand level since states began issuing stay-at-home orders in mid-March.
At the end of Friday’s formal trading session, West Texas Intermediate increased by $2.14 to settle at $39.55 per barrel. At the end of last week, crude prices increased amid market optimism that the Organization of the Petroleum Exporting Countries (OPEC) and other major crude exporters, including Russia, would extend their 9.7 million b/d production reduction agreement for May and June 2020 into July. Over the weekend, the cartel and its partners agreed to extend the deal for July, which is expected to reduce global crude supplies by nearly 10 percent while global crude oil demand remains low due to COVID-19. Crude prices will likely increase this week in reaction to OPEC’s announcement.
Additionally, approximately one third of crude oil and natural gas production in the Gulf of Mexico has been halted, as Tropical Depression Cristobal makes landfall in Louisiana. The storm is expected to bring tropical-storm force winds and potential storm surge and flooding to the state’s coastal areas. There is no estimate for when the facilities will resume operations. Any impact on domestic crude prices will depend on how long production remains shuttered and the extent of damage caused by the storm.
Motorists can find current gas prices nationwide, statewide, and countywide at GasPrices.AAA.com.
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