PITTSBURGH — The average price of gasoline across Western Pennsylvania is five cents cheaper this week at $2.811 per gallon, according to AAA East Central’s Gas Price Report.
Gas prices are as much as five cents cheaper throughout the Mid-Atlantic and Northeast region, ranging from $2.32 to $2.81. Statewide, Pennsylvania motorists are paying an average of $2.78 for a gallon of gasoline, which is four cents cheaper than last Monday.
According to the latest information from the Energy Information Administration (EIA), regional gasoline stocks have increased by 500,000 barrels. This was largely due to imports, which are backfilling supply that was lost in the aftermath of the shutdown of the Philadelphia Energy Solutions refinery. The backfill is welcomed news for motorists, as the imports are helping offset another decline in refinery utilization, which is now down to 70%.
The average price of unleaded self-serve gasoline in Bradford is $2.898; in Brookville, $2.821; in DuBois, $2.657; in Erie, $2.879; and in Warren, $2.941.
Even as summer begins to wind down, gasoline demand is soaring to new heights. In its latest reading (for the week ending Aug. 9), the EIA recorded demand at 9.93 million b/d, the highest since the agency began recording data in 1991. Pump prices continue to trend cheaper for most motorists across the country in the last week, though the increase in demand has slowed the rate at which prices were dropping. With demand expected to decrease in the weeks ahead and the switchover to winter-blend gas approaching, the nation’s average has the potential to continue dropping in the coming months.