AAA: Gas prices soaring in Pennsylvania

Gas prices are 13 cents higher in Western Pennsylvania this week at $3.655 per gallon, according to AAA East Central's Gas Price Report.

• This week's average prices in Western Pennsylvania are $3.655/per gallon.

• The average price during the week of February 12, 2024 was $3.521/per gallon.

• The average price during the week of February 21, 2023 was $3.806/per gallon.

Trend Analysis:

After months of barely budging more than a few cents, the national average for pump prices jumped 12 cents over the past week to $3.27. A significant contributor is a shutdown at the large BP-Whiting refinery in Indiana, which has been offline for more than two weeks due to a power outage. The refinery processes 435,000 barrels of crude per day, and the shutdown has caused prices throughout the Midwest to climb, pushing the national average higher as well. Today's national average is 19 cents more than a month ago but 14 cents less than a year ago.

According to new data from the Energy Information Administration (EIA), gas demand decreased from 8.81 to 8.17 million barrels per day last week. Total domestic gasoline stocks declined by 3.7 million barrels to 247.3 million barrels. Lower gas demand would typically push pump prices down, but fluctuating oil prices and tight gas supply is causing price increases.

At the close of Wednesday's formal trading session, West Texas Intermediate decreased by $1.23 to settle at $76.64. Oil prices dropped after the EIA reported that total domestic commercial crude stocks increased significantly by 12 million barrels to 439.4 million barrels last week.

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