AAA: Gas prices continue to climb in Pennsylvania

Gas prices are four cents higher in Western Pennsylvania this week at $3.752 per gallon, according to AAA East Central’s Gas Price Report.

This week’s average prices in Western Pennsylvania were $3.752/ per gallon.

The average price during the week of March 18, 2024 was $3.715 / per gallon.

The average price during the week of March 27, 2023 was $3.684/ per gallon. Trend Analysis: The national average for a gallon of gas rose seven cents over the past week to $3.53. While domestic gas demand has been lackluster, rising oil prices helped push pump prices higher. The Midwest may see a bit of a price reprieve, as the large BP Whiting refinery in Indiana is back up and running after being down since February 1. Today’s national average is 27 cents more than a month ago and nine cents more than a year ago.

According to new data from the Energy Information Administration (EIA), gas demand decreased slightly from 9.04 to 8.81 million barrels per day last week. Meanwhile, total domestic gasoline stocks dropped by 3.3 million barrels to 230.8 million barrels. Lower demand would typically contribute to pushing pump prices lower or slowing increases but rising oil prices have pushed them higher instead.

At the close of Wednesday’s formal trading session, West Texas Intermediate decreased by $1.79 to settle at $81.68. Oil prices fell after the US Federal Reserve announced it was leaving interest rates unchanged, but it expects three rate cuts by the end of 2024. Additionally, the EIA reported that total domestic commercial crude stocks decreased by 2 million barrels to 445 million barrels last week.

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