PITTSBURGH — Western Pennsylvania gas prices are still on a downward slope this week to $2.739 a gallon according to AAA East Central’s Fuel Gauge report. The national average is $2.591.
The national average price for regular unleaded gasoline has fallen for 26 consecutive days. This is the longest streak of consecutive declines since January, and pump prices have moved lower by 19 cents per gallon over this period. Today’s average gas price is 89 cents per gallon lower than this same date last year.
West Texas Intermediate (WTI), the domestic benchmark for crude oil, has reached its lowest price since March 2015, and market fundamentals point to prices moving lower in the near term. Oversupply continues to characterize the oil market, and according to the latest report from the U.S. Energy Information Administration (EIA), refinery utilization rates are running at record highs. Pump prices are likely to post notable declines leading up to the Labor Day holiday.
Domestic focus has shifted to the potential for a glut in gasoline due to strong refinery runs and the potential for demand to drop as the summer-driving season concludes. In addition, U.S. crude oil rig counts have added 32 rigs over the last six weeks.
The average price of unleaded self-serve gasoline in Bradford was $2.807; the highest was in Beaver at $2.829; and the lowest was in Erie at $2.577,
AAA East Central is a not-for-profit association with 83 local offices in Kentucky, New York, Ohio, Pennsylvania and West Virginia serving 2.7 million members.


