AAA: Gas prices continue to climb in Pa.

Gas prices are nine cents higher in Western Pennsylvania this week at $3.865 per gallon, according to AAA East Central's Gas Price Report.

This week's average prices in Western Pennsylvania are $3.865/per gallon.

The average price during the week of January 23, 2023 was $3.779/per gallon.

The average price during the week of January 31, 2022 was $3.481/per gallon.

Trend Analysis:

The recent run of daily one- to four-cent price increases slowed heading into this past weekend, with prices now dipping slightly to start the week. However, increased demand and higher global oil prices pushed the national average for a gallon of gas up eight cents since last week to $3.50. Today's national average is 33 cents more than a month ago and 14 cents more than a year ago.

According to data from the Energy Information Administration, gas demand rose slightly from 8.05 to 8.14 million barrels per day last week. Meanwhile, total domestic gasoline stocks increased by 1.7 million barrels to 232 million barrels. Rising gas demand and elevated oil prices have contributed to higher pump prices.

At the close of Friday's formal trading session, West Texas Intermediate decreased by $1.33 to settle at $79.68. Although a higher dollar contributed to pushing prices lower at the end of the week, oil prices rose earlier last week amid ongoing market optimism that global oil demand will be more robust than anticipated in 2023. This is partly due to China reopening its economy after imposing strict COVID-19 lockdowns that curtailed demand.

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