Local gas prices had no trouble following regional and statewide trends this week, ticking up 1.4 cents to the region’s penny and 1.5 cents statewide.
Bradford’s average at $3.771 remains well above the $3.489 seen regionally and the even lower $3.32 seen statewide, according to GasBuddy and AAA East Central.
From cheapest to priciest, Pennsylvania pump prices ranged Monday from $2.79 to $4.16, a $1.37 gap. In Brookville it was $3.488, $3.475 in DuBois, $3.460 in Erie and $3.759 in Warren.
Average Keystone costs are 9 cents lower than last month and 49.7 cents lower than last year.
The national average for a gallon of gasoline fell another 4.6 cents during the last week, standing at $3.13 Monday. That’s down 11.6 cents from last month and 56.2 cents less than last year.
Nationally, diesel did not post another decline, but didn’t increase either, holding steady at $3.54 per gallon.
“While the national average dipped slightly in the last week, Iran’s attack on Israel has at least temporarily caused oil prices to surge to the highest level in months, which could cause the declines to cease for now and could lead to a rise in gas prices for many Americans,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “In addition to the escalation in the Middle East, hurricane season remains active, with Hurricane Milton now heading toward a likely landfall in Florida. As a result of potential evacuations, GasBuddy’s Fuel Availability tracker will remain online for areas likely to be affected by Milton. For now, motorists in most areas can expect to see more increases in gas prices primarily due to tensions in the Middle East, but I remain hopeful that a $2.99 national average remains possible this fall.”
AAA East Central officials stated, “OPEC+ is saying, at least for now, they will increase production starting Dec. 1, putting even more downward pressure on pump prices.”
According to new data from the Energy Information Administration (EIA), gas demand fell from 9.20 million barrels per day last week to 8.52. Meanwhile, total domestic gasoline stocks rose from 220.1 million barrels to 221.2, while gasoline production decreased last week, averaging 9.6 million barrels daily. The EIA reports that crude oil inventories increased by 3.9 million barrels from the previous week. At 416.9 million barrels, U.S. crude oil inventories are about 4% below the five-year average for this time of year.
At the close of Wednesday’s formal trading session, West Texas Intermediate rose by 27 cents to settle at $70.10 per barrel. Locally, a barrel of crude oil was worth more than $70 for the first time since Aug. 30 after purchasers American Refining Group Inc. (ARG) and Ergon on Friday increased their price by 67 cents to $70.38.
Motorists can find current gas prices nationwide, statewide and countywide at gasprices.aaa.com.
