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    Home Business Gas prices inch upward
    Gas prices inch upward
    Business, Local
    August 7, 2018

    Gas prices inch upward

    PITTSBURGH — Gas prices in Western Pennsylvania are up by about two cents this week at $3.103 per gallon, according to AAA East Central’s Gas Price Report.  

    Many states in the Mid-Atlantic and Northeast region saw increases at the pump (Pennsylvania, +2 cents), and some saw prices remain the same. Only one state saw a modest decrease of one cent.

    During July, total gasoline inventory levels in the region dropped from 66.4 million barrels to 64 million. The latest Energy Information Administration (EIA) numbers report inventories were drawn down by 1.2 million barrels — the largest draw of any region for the week ending July 27.  With gasoline import numbers slowing, this region could see inventory levels really tighten and gas prices amplify despite having a year-over-year surplus.

    The average price of unleaded self-serve gasoline in Bradford is $3.068; in Brookville, $3.154; in DuBois, $3.032; in Erie, $3.087; and in Warren, $3.139.

    Tags:

    barrel chemistry commerce economics energy information administration gas inventory motor vehicle price region state

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