PITTSBURGH — Gas prices are three cents higher in Western Pennsylvania this week at $3.629 per gallon, according to AAA East Central’s Gas Price Report.
The average price of unleaded self-serve gasoline in Bradford was $3.699; Brookville, $3.660; DuBois, $3.609; Erie, $3.678; and in Warren, $3.699.
The national average price for a gallon of gas rose sharply last week to $3.48, four cents more than a week ago.
The main culprit behind the recent climb in pump prices continues to be the high cost of crude oil, which is currently staying above $90 per barrel. Moderating winter weather and optimism over a potential fading of the omicron variant have led to an increase in gas demand.
According to new data from the Energy Information Administration (EIA), total domestic gasoline stocks dropped by 1.6 million barrels to 248.4 million barrels last week. On the other hand, gasoline demand rose from 8.23 million barrels per day to 9.13 million barrels per day. A decrease in total stocks and increased demand have contributed to upward pressure on pump prices, but rising crude prices continue to play the dominant role in pushing pump prices higher. Gas prices could continue to increase as demand grows and crude oil prices remain above $90 per barrel.
