American motorists are paying the lowest prices to fuel up during March since 2021, according to GasBuddy’s nationwide fuel price reports.
The national average price of a gallon of gas fell 0.6 cents to $3.03 Monday — 8.9 cents less than last month and 36.7 cents less than last year. For diesel, U.S. drivers are paying an average of $3.608 per gallon — 2.1 cents lower than last week.
“The average price of gasoline in the U.S. hasn’t been this low in March since 2021, when the pandemic significantly reduced demand and kept prices suppressed. This time around, caution is also playing a role in keeping prices lower— particularly uncertainty over tariffs, which is likely having a moderate impact,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
Locally, Bradford’s average gas prices at least followed the decrease seen throughout Western Pennsylvania this week, dipping 2.4 cents.
Regionally, prices dropped 5 cents to $3.441 per gallon, according to AAA East Central. In Bradford, the average price for a gallon of gas stood at $3.569 Monday.
In Brookville it was $3.260, below the regional average and down 5.7 cents this week. In DuBois it was $3.242 and in Erie it was $3.439, down more than a dime in both locations. Warren’s average shed 3.4 cents to $3.562.
Statewide, stations varied by as much as $1.31 per gallon, from $2.64 at the lowest price and $3.95 at the highest, according to GasBuddy. The commonwealth’s average Monday rested at $3.25, having dropped 4.8 cents during the last week. This week’s average is 10.1 cents less than a month ago and 27.1 cents less than a year ago.
“Concerns about the direction of the economy could have a major influence on fuel prices in the months ahead, especially with the high level of uncertainty surrounding tariffs. Additionally, OPEC+ announced last week that it would gradually begin restoring oil production after nearly two years of cuts, adding further downward pressure on oil prices,” DeHaan observed. “As a result, the typical seasonal rise in gas prices has yet to materialize, and if and when it does, it may be considerably smaller than expected.”
As of Monday, local crude oil purchasers American Refining Group and Ergon Oil Purchasing had decreased their price for a barrel of Penn grade crude oil by $1.01 to $62.03.
For the week of March 10, the year 2016 remains the lowest average for a gallon of gas during the last decade, at $1.94 in Pennsylvania and $1.84 across the U.S. Averages from this week in 2022 are by far the highest during the last 10 years, at $4.44 across the state and $4.34 nationwide.
According to new data from the Energy Information Administration (EIA), gasoline demand increased from 8.45 barrels per day last week to 8.87. Total domestic gasoline supply decreased from 248.3 million barrels to 246.8. Gasoline production increased last week, averaging 9.6 million barrels per day.
At the close of Wednesday’s formal trading session, West Texas Intermediate dropped $1.95 to settle at $66.31 a barrel. The EIA reports that crude oil inventories increased by 3.6 million barrels from the previous week. At 433.8 million barrels, U.S. crude oil inventories are about 4% below the five-year average for this time of year.
Motorists can find current gas prices nationwide, statewide and countywide at gasprices.aaa.com.
