The average price of gasoline across Western Pennsylvania is a penny lower this week at $2.521 per gallon, according to AAA East Central’s Gas Price Report.
The average price of unleaded self-serve gasoline in various areas includes $2.579 in Bradford, $2.528 in DuBois and $2.599 in Warren.
Gasoline demand has dropped significantly since the beginning of the month, down from 8.8 million b/d to 8.2 million b/d, according to the latest Energy Information Administration (EIA) report. This latest demand measurement is the lowest since mid-June. While the drop isn’t out of the ordinary for this time of year, it is a staggering 14% less than last October. On the week, gasoline stocks increased to 227 million barrels, putting total supplies at a 4-million-barrel surplus compared to this time last year.
Monday’s national average is $2.16, which is the same price as last week, 2 cents cheaper than last month and 44 cents less than last year. On the week, only five states saw gas prices increase: Ohio (+7 cents), Kentucky (+6 cents), Michigan (+5 cents), Indiana (+1 cent) and Illinois (+1 cent). Of the states with cheaper weekly prices, 20 averages are 2 to 5 cents less than last Monday.