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AAA: Gas Prices Mostly Stable Despite Decrease in Demand

Gas prices are a penny lower in Western Pennsylvania this week at $4.309 per gallon, according to AAA East Central’s Gas Price Report.

This week’s average prices: Western Pennsylvania Average: $4.309

Average price during the week of March 21, 2022: $4.311
Average price during the week of March 29, 2021: $3.010

The average price of unleaded self-serve gasoline in various areas:

$4.297 Altoona
$4.332 Beaver
$4.392 Bradford
$4.299 Brookville
$4.279 Butler
$4.308 Clarion
$4.319 DuBois
$4.281 Erie
$4.284 Greensburg
$4.299 Indiana
$4.283 Jeannette
$4.307 Kittanning
$4.326 Latrobe
$4.294 Meadville
$4.339 Mercer
$4.275 New Castle
$4.293 New Kensington
$4.299 Oil City
$4.309 Pittsburgh
$4.299 Sharon
$4.291 Uniontown
$4.398 Warren
$4.315 Washington

Trend Analysis

With the cost of crude oil hovering near $110 per barrel, volatility at the pump has slowed. After hitting $4.33 on March 11, today’s national average for a gallon of gas is $4.24, which is one cent less than a week ago, 63 cents more than a month ago, and $1.38 more than a year ago.

Domestically, gasoline demand is defying seasonal trends and has dipped for the second straight week, perhaps due to higher pump prices and consumers altering their driving habits. The drop in gas demand is contributing to steadier prices. However, elevated oil prices have slowed that decline, and if prices continue to rise, pump prices will likely follow suit.

At the close of Friday’s formal trading session, West Texas Intermediate increased by $1.56 to settle at $113.90. Crude prices climbed after EIA’s weekly report revealed that total domestic crude stocks declined last week by 2.5 million barrels to 413.4 million barrels, approximately 18 percent lower than the level in mid-March 2021. The current inventory level highlights tightness in the market, contributing to rising oil prices.

Motorists can find current gas prices nationwide, statewide, and countywide at GasPrices.AAA.com.