Gas prices are moving again, but not the way residents were hoping.
On Monday, both GasBuddy and AAA East Central reported gas prices went up. GasBuddy said prices rose by 7.7 cents to $3.70 a gallon across the state, while AAA said prices went up nine cents to $3.74 a gallon in Western Pennsylvania.
“For another week, we saw little meaningful change in the national average, which has been stuck in the same 10 cent range we’re in today since April. It’s been a remarkably quiet summer for gas prices, which have been far less active than normal,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
The average price of unleaded self-serve gasoline in Bradford was $3.752; in Brookville, $3.719; in DuBois, $3.752; in Erie, $3.737; and in Warren, $3.753.
Prices in Pennsylvania are 7.7 cents per gallon higher than a month ago and stand 85.0 cents per gallon lower than a year ago. The national average price of diesel has risen 2.7 cents in the last week and stands at $3.83 per gallon.
According to GasBuddy price reports, the cheapest station in Pennsylvania was priced at $2.99 per gallon on Sunday while the most expensive was $4.19 per gallon, a difference of $1.20 per gallon.
The national average price of gasoline has risen 2.1 cents per gallon in the last week, averaging $3.55 per gallon on Monday. The national average is down 0.4 cents per gallon from a month ago and stands 78.0 cents per gallon lower than a year ago, according to GasBuddy data.
“However, with tremendous heat gripping much of the country, I remain concerned about the fuel that such high temperatures will provide for tropical systems that venture into the Atlantic and Caribbean,” he continued. “For now, I don’t expect much change in the toss up that has been gas prices for weeks on end. But, with gasoline demand now hitting its summer high, there remain some risks that could disturb gas prices in a significant way before summer’s end.”
According to the latest data from the Energy Information Administration (EIA), gas demand increased slightly from 8.76 to 8.86 million b/d for the week ending July 14. Meanwhile, total domestic gasoline stocks fell from 219.5 to 218.4 million barrels.
At the close of last Wednesday’s formal trading session, West Texas Intermediate decreased by 40 cents to settle at $75.35. Oil prices slid last week in response to market concerns that crude demand may soften in the months ahead. Due to extended repair timelines at refineries, lower refinery oil usage rates could influence how much oil prices decline.
