For the second straight week, gas prices have risen in Western Pennsylvania. This week, prices are seven cents higher at $3.516 per gallon, according to AAA East Central’s Gas Price Report. This is compared to the average price on Oct. 11, which was $3.446, and the week of Oct. 19, 2020 had an average price of $2.533.
The average price of unleaded self-serve gasoline in various areas includes $3.580 in Bradford; $3.554 in Brookville; $3.602 in Clarion; $3.459 in DuBois; $3.624 in Erie; $3.659 in Oil City; $3.450 in Pittsburgh and $3.633 in Warren.
This week’s national average for a gallon of gasoline hit $3.32 which is five cents higher than last week. The primary driver of this surge remains the cost of crude oil, which is now closing daily above $80 a barrel. In August, the price of crude was in the low $60s per barrel.
According to new data from the Energy Information Administration (EIA), last week’s total domestic gasoline supply fell by 2 million barrels to 223.1 million barrels. Gasoline demand also fell from 9.43 million barrels per day to 9.19 million barrels per day, but the agency calculates it is still some 610,000 barrels per day above last year. Typically, softening demand should result in some easing of pump prices, but the higher cost for crude is keeping prices elevated. With more expensive oil prices, pump prices will follow suit because the cost of crude oil accounts for more than half of the price of each gallon of gas.
