Pennsylvania Gas Prices Dip by Two Cents as Inventory Bulks Up

The average price of gasoline across Western Pennsylvania is two cents cheaper this week at $2.830 per gallon, according to AAA East Central’s Gas Price Report.

State gas price averages in the Mid-Atlantic saw minimal movement this week. Delaware ($2.31) saw the largest decrease at three cents, followed by North Carolina at two cents.

All other states in the region saw prices decline by a penny or hold steady since last Monday. Gas prices range from $2.29 in Virginia to $2.75 in Pennsylvania.

For a second week, gasoline stocks saw a substantial 1.6-million-barrel increase. According to the Energy Information Administration (EIA), that bumps total stocks up to their highest level in six weeks – 62.3 million barrels, which is a nearly 3 million year-over-year surplus.

This week’s average prices

Western Pennsylvania Average – $2.830

Average price during the week of Dec. 9, 2019 – $2.854

Average price during the week of Dec. 17, 2018 – $2.610

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

$2.705 Altoona

$2.834 Beaver

$2.939 Bradford

$2.799 Brookville

$2.782 Butler

$2.946 Clarion

$2.848 Du Bois

$2.860 Erie

$2.702 Greensburg

$2.894 Indiana

$2.803 Jeannette

$2.860 Kittanning

$2.689 Latrobe

$2.952 Meadville

$2.863 Mercer

$2.655 New Castle

$2.902 New Ken.

$2.851 Pittsburgh

$2.808 Sharon

$2.869 Uniontown

$2.951 Warren

$2.743 Washington

On the National Front

December is bringing cheaper gas prices to pumps across the country. Today’s average is $2.55, which is nearly a nickel cheaper than the beginning of the month. Decreasing gasoline demand and increasing stocks are driving the change in pump prices. The latest EIA reports show gasoline demand at its lowest rate since mid-February and the highest stock levels since this summer.

Today’s national average is two cents cheaper than last week, a nickel cheaper than last month, but 18 cents more expensive than this time last year.

At the close of Friday’s formal trading session on the NYMEX, West Texas Intermediate increased 89 cents to settle at $60.07. Crude prices jumped up after the U.S. and China announced that the world’s two largest crude consuming countries have reached a tentative “Phase One” trade agreement that reduces some U.S. tariffs in exchange for increased Chinese purchases of American farm goods. Since the start of the trade war between the two countries, crude prices have suffered because of reduced crude demand. If trade tensions continue to decrease, crude prices could increase again this week due to reduced market concerns that crude demand will decrease next year.

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