PITTSBURGH — The average price of gasoline across Western Pennsylvania is a penny higher this week at $2.758 per gallon, according to AAA East Central’s Gas Price Report.
Most Mid-Atlantic and Northeast states have gas prices that are cheaper or stable compared to last week. Only four states saw upward movement at the pump this week: Delaware (+9 cents), Maryland (+3 cents), Tennessee (+2 cents) and Pennsylvania (+1 cent).
Gasoline stocks decreased by 1.4 million barrels this week, dropping levels to 63.6 million. According to Energy Information Administration (EIA) data, stocks in the region have mostly been building since July. This is the largest draw seen during this timeframe, bringing levels to a 3.1-million-barrel deficit compared to this time last year. Following the attacks over the weekend on two major Saudi Arabian oil facilities, motorists in the region may see fluctuations at the pump if crude oil prices continue to increase.
The average price of unleaded self-serve gasoline in Bradford is $2.874; in Brookville, $2.749; in DuBois, $2.694; in Erie, $2.818; and in Warren, $2.752.
On the week, the national gas price average held steady at $2.56, but motorists can expect volatility at the pump in the coming days and weeks. Over the weekend, Saudi Arabia experienced drone attacks on two major oil facilities – including the world’s largest, Abqaiq. The attacks have taken 5.7 million crude barrels per day off the market, accounting for about 6% of the global supply.
Americans may see local pump prices start to increase this week, though it is not clear by how much. Whether this is a short- or long-term trend will be determined by the price of crude oil and how quickly the facilities in Saudi Arabia can recover and get back online. To ease concerns, President Trump said he has authorized the release of crude from the Strategic Petroleum Reserve. Other Saudi-oil-consuming countries also have emergency reserves to help back-fill the global loss, if needed.
