The average price of gasoline across Western Pennsylvania is three cents higher this week at $2.735 per gallon, according to AAA East Central’s Gas Price Report.
The average price of unleaded self-serve gasoline in various areas includes $2.799 in Bradford and Warren and $2.659 in DuBois.
At the pump, the national average increased by two cents on the week to $2.40. Five states saw gas prices decrease – Michigan (-5 cents), Indiana (-5 cents), Ohio (-2 cents), North Carolina (-1 cent) and Delaware (-1 cent); while the rest of the country saw nominal increases. Moreover, only three states saw gas price averages increase more than a nickel.
According to the latest Energy Information Administration (EIA) measurement, gasoline demand jumped from 7.53 million b/d to 8.11 million b/d. Typically, a significant increase in demand results in a comparable decrease in supply, ultimately translating to more expensive pump prices. However, the recent large jump in demand had little impact on gasoline supply and minimal impact on pump prices so far. Another week of substantial demand increase could have a larger impact on inventory levels and lead to a larger rise at the pump.
