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    Home News Gas prices jump as region switches to summer-blend gasoline
    Gas prices jump as region switches to summer-blend gasoline
    Business, Local News, News
    April 9, 2019

    Gas prices jump as region switches to summer-blend gasoline

    PITTSBURGH — The average price of gasoline across Western Pennsylvania is 11 cents more expensive this week at $2.919 per gallon, according to AAA East Central’s Gas Price Report.  

    Gasoline is mostly more expensive this week across the Mid-Atlantic and Northeast region as refiners make the switch from producing winter-blend gasoline to summer-blend, which is more expensive to produce. Most states saw increases from one to three cents, while a few state averages jumped by more than a nickel, including Pennsylvania (+8 cents).  

    According to the Energy Information Administration’s (EIA) latest report, gasoline stock levels measure at 63.5 million barrels, which is a 6 million year-over-year surplus. That level has the potential to grow considering regional refinery utilization has been steadily increasing since the beginning of March, jumping from 67.7% to 79%. However, if spring and summer demand rapidly increase, that could chip away at the surplus which would likely cause more expensive pump prices.

    The average price of unleaded self-serve gasoline in Bradford is $2.957; in Brookville, $2.953; in DuBois, $2.939; in Erie, $2.977; and in Warren, $2.861.

    At $2.74, the national gas price average increased a nickel on the week and is eight cents more expensive than at this time last year. Compared to one month ago, the average is 28 cents more expensive.

     

    Tags:

    chemistry economics energy information administration's gas industry motor vehicle nickel price refiner stock surplus

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