Gas prices are seven cents lower in Western Pennsylvania this week at $3.456 per gallon, according to AAA East Central’s Gas Price Report.
This week’s average prices: Western Pennsylvania Average: $3.456
Average price during the week of December 11, 2023: $3.528
Average price during the week of December 19, 2022: $3.795
The average price of unleaded self-serve gasoline in various areas:
$3.286 Altoona
$3.539 Beaver
$3.644 Bradford
$3.407 Brookville
$3.459 Butler
$3.471 Clarion
$3.431 DuBois
$3.388 Erie
$3.511 Greensburg
$3.458 Indiana
$3.485 Jeannette
$3.656 Kittanning
$3.468 Latrobe
$3.339 Meadville
$3.451 Mercer
$3.219 New Castle
$3.466 New Kensington
$3.423 Oil City
$3.496 Pittsburgh
$3.366 Sharon
$3.473 Uniontown
$3.602 Warren
$3.461 Washington
Trend Analysis:
AAA is forecasting 104 million Americans will drive to their holiday destinations and many of them will find the gift of lower gas prices. The national average for a gallon of gas is lower now than at any time in all of 2022. Today’s national average of $3.06 is three cents lower than 2022’s low of $3.09 and nine cents lower than a week ago. The main reasons are moderate demand and a low cost for oil, which is hovering around $70 per barrel.
According to new data from the Energy Information Administration (EIA), gas demand increased from 8.47 to 8.86 million barrels per day last week. Meanwhile, total domestic gasoline stocks increased slightly to 224 million barrels.
At the close of Wednesday’s formal trading session, West Texas Intermediate increased by 86 cents to settle at $69.47. Oil prices increased after the US Federal Reserve announced that it plans to hold interest rates steady through the end of the year and potentially reduce them up to three times in 2024. The market had been concerned that the economy could tip into a recession if interest rates kept increasing. Additionally, the EIA reported that total domestic commercial crude inventories decreased by 4.3 million barrels to 440.7 million barrels last week.
Motorists can find current gas prices nationwide, statewide, and countywide at gasprices.aaa.com.
