AAA: Pennsylvania Gas Prices Stable; National Demand Dips

| July 7, 2020

CLARION CO., Pa. (EYT) – The average price of gasoline across Western Pennsylvania is steady this week at $2.475 per gallon, according to AAA East Central’s Gas Price Report.

Venango County drivers are paying an average of $2.499 per gallon for regular unleaded gasoline. In Clarion County, the standard price is $2.449. The average in Mercer County is $2.515.

Most states in the Mid-Atlantic and Northeast region saw minimal gas price fluctuation this week. Eight states saw no change at the pump, while others only experienced a one to two cent increase or decrease.

Pennsylvania ($2.43) and Washington, D.C. ($2.34) rank among the top 10 most expensive states/territories in the country. Virginia ($1.98) is the only state in the region with a less than $2/gallon average.

Regional inventory held above 75 million barrels, with the Energy Information Administration’s (EIA) report showing a small dip from 75.4 to 75.2 million barrels. The mostly stable hold on stocks helped to keep gas price fluctuation to a minimum in the past week.

This week’s average prices: Western Pennsylvania Average $2.475
Average price during the week of June 29, 2020 $2.479
Average price during the week of July 8, 2019 $2.920

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

$2.490 Altoona
$2.477 Beaver
$2.499 Bradford
$2.484 Brookville
$2.464 Butler
$2.449 Clarion
$2.480 DuBois
$2.480 Erie
$2.433 Greensburg
$2.473 Indiana
$2.473 Jeannette
$2.467 Kittanning
$2.509 Latrobe
$2.492 Meadville
$2.515 Mercer
$2.372 New Castle
$2.495 New Kensington
$2.499 Oil City
$2.473 Pittsburgh
$2.491 Sharon
$2.486 Uniontown
$2.505 Warren
$2.412 Washington

On the National Front

The national gas price average increased just one cent to $2.18 on the week, despite a dip in U.S. demand for gasoline and gasoline stocks increasing by 1 million barrels. The slight drop in demand – 47,000 barrels-per-day – amid the increase in inventory comes as many states report increases in COVID-19 cases, potentially causing Americans to reconsider outings.

For motorists who hit the road for the Independence Day holiday, gas prices were nearly 60 cents cheaper than last year and the most inexpensive prices for the holiday since 2004.

At the end of Friday’s formal trading session, West Texas Intermediate increased by 83 cents to settle at $40.65 per barrel. Domestic crude prices increased after the EIA’s weekly report revealed that total domestic crude inventories fell by 7.2 million barrels to 533.5 million barrels.

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


Copyright © 2020 EYT Media Group, Inc. All rights reserved. Any copying, redistribution or retransmission of the contents of this service without the express written consent of EYT Media Group, Inc. is expressly prohibited.

Category: Business News, Local News, News