The average price of gasoline across Western Pennsylvania is two cents cheaper this week at $2.951 per gallon, according to AAA East Central’s Gas Price Report.
The average price in Western Pennsylvania for the week of July 30 was $3.082, while the price for the week of July 22 was $2.975.
In Bradford, the average price is currently $2.996, compared to $2.997 in Warren, $2.994 in DuBois, $2.998 in Erie, $2.944 in Meadville and $2.980 in Pittsburgh.
Across the Mid-Atlantic and Northeast states, gas prices are cheaper or stable on the week. Across Pennsylvania, gasoline is three cents cheaper on average at $2.89.
Gasoline inventory built by just under a half a million barrels this week as regional refinery utilization jumped from 69% to 77%. The increasing utilization numbers are positive considering the recent fire and pending subsequent closure of the Philadelphia Energy Solutions (PES) refinery, which was the largest refinery on the East Coast. If utilization continues this positive trend, gas prices would likely follow suit pushing cheaper. However, August can tend to see more miles traveled in the region, which could cause some moderate spikes throughout the month.
Monday’s national average was $2.73. While this is two cents more expensive than at this point last month, it is three cents cheaper than last week and 12-cents less expensive than a year ago. Cheaper gas prices have encouraged summer road trips, as evidenced by robust demand figures since May. AAA will continue to monitor how a potential increase in demand could alter prices nationwide.
