AAA: Gas Prices Keep Sliding Lower

| December 1, 2022

VENANGO CO., Pa. – Gas prices are three cents cheaper in Western Pennsylvania this week at $3.996 per gallon, according to AAA East Central’s Gas Price Report.

This week’s average prices: Western Pennsylvania Average: $3.996
Average price during the week of November 21, 2022: $4.020
Average price during the week of November 29, 2021: $3.573

Venango County drivers are paying an average of $4.047 a gallon for regular unleaded gasoline. In Clarion County, the standard price is $3.965. Forest County drivers are paying an average of $4.094 a gallon.

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

$4.094 Altoona
$3.966 Beaver
$4.155 Bradford
$3.672 Brookville
$3.953 Butler
$4.017 Clarion
$4.060 DuBois
$4.071 Erie
$3.964 Greensburg
$3.967 Indiana
$3.908 Jeannette
$3.920 Kittanning
$3.994 Latrobe
$4.144 Meadville
$4.087 Mercer
$3.920 New Castle
$3.987 New Kensington
$4.148 Oil City
$3.959 Pittsburgh
$4.956 Sharon
$3.932 Uniontown
$4.159 Warren
$3.874 Washington

Trend Analysis:

The national average for a gallon of gas dropped 12 cents this week to $3.54, which is 22 cents less than a month ago and 15 cents more than a year ago. It is the steepest weekly decline since early August.

According to data from the Energy Information Administration (EIA), gas demand, excluding holiday travel, fell from 8.74 million to 8.33 million barrels per day last week. Meanwhile, total domestic gasoline stocks rose by more than 3 million barrels to 211 million barrels. Increasing supply and fewer drivers fueling up have pushed pump prices lower.

At the close of Friday’s formal trading session, West Texas Intermediate decreased by $1.66 to settle at $76.28. Crude prices dropped last week due to growing economic concerns despite the EIA reporting that total domestic commercial crude stocks had declined by 3.7 million barrels. The Organization of the Petroleum Exporting Countries and its allies (OPEC+) are meeting on December 4. If OPEC+ decides to revise its production reduction agreement to more than 2 million barrels, prices could be affected.

Motorists can find current gas prices nationwide, statewide, and countywide at gasprices.aaa.com.


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Category: Business News, Local News, News, State News

Jacob Deemer is a reporter for EYT Media Group based in Venango County. He started his career as a sports writer for a local newspaper before contributing to TheHockeyWriters.com as a beat writer for the Pittsburgh Penguins. He has spent over 5 years covering sports, crime, and local news in Venango, Clarion, and Jefferson Counties.
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