AAA: Western Pa. Gas Prices Inch Upward for the First Time in Weeks

The average price of gasoline across Western Pennsylvania is a penny higher this week at $2.724 per gallon, according to AAA East Central’s Gas Price Report. This is the first increase in the region in six weeks.

There was volatility at the pump in the Mid-Atlantic and Northeast states this week, with gas prices increasing in many states (Pa., plus1 cent), and decreases or stability in the others.

The five most expensive state averages in the region, which rank among the 8th – 13th highest in the country, are Pennsylvania ($2.64), New York ($2.61), Vermont ($2.58) Washington, D.C. ($2.58) and Connecticut ($2.54).

Gasoline inventory built again, this week by about 400,000 barrels. That jumped total stock levels to above 67 million barrels, according to the latest data from the Energy Information Administration (EIA).

At 65.8 percent, regional refinery utilization is the lowest of any region in the country. However, imports are helping to keep gasoline stocks at healthy levels and gas prices cheaper for some motorists in the region.

This week’s average prices

Western Pennsylvania Average – $2.724

Average price during the week of Feb. 10, 2020 – $2.719

Average price during the week of Feb. 19, 2019 – $2.595

On the national front, state gas price averages are fluctuating across the country, causing the national gas price average to increase by two cents on the week to $2.44.

Since last week, most states saw gas price increases or decreases by as much as three cents, and eight states saw prices increase by a nickel or more.

This fluctuation could be attributed in part to domestic wholesale gasoline and global crude oil prices increasing last week. Pump prices in the week ahead could see further volatility depending on movement of the oil market as well as U.S. gasoline demand and stock levels numbers.

Today’s national average is 11 cents cheaper than last month, but 13 cents more expensive than last year.

At the close of Friday’s formal trading session on the NYMEX, West Texas Intermediate increased by $1.73 to settle at $52.05. Crude prices increased after reports emerged that the coronavirus had potentially reached its peak. Market watchers ended the week optimistic that global crude demand would not decrease further. However, if occurrences of the virus continue to increase this week, the market may struggle to hold onto price gains.

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