Slight drop at the pump in Pennsylvania
Business News
May 5, 2020

Slight drop at the pump in Pennsylvania

PITTSBURGH — The average price of gasoline across Western Pennsylvania is a penny cheaper this week at $2.070 per gallon, according to AAA East Central’s Gas Price Report.

The majority of states in the Mid-Atlantic and Northeast region continue to pay less at the pump. Vermont (-3 cents) saw the largest decline on the week. Gas prices in the region range from $1.67 to $2.17. Only four states in the region carry gas prices above $2/gallon: Washington, D.C. ($2.17), New York ($2.15), Pennsylvania ($2.02) and New Jersey ($1.99).

After weeks of steady gasoline stock increases, the Energy Information Administration (EIA) reports a decline of 1.3 million barrels to total regional levels at 72.5 million barrels. Regional refinery rates are steadily building back towards 50%. In the week ahead, most of the region is likely to see gas prices hold steady or minimally decline as the bulk of states continues to keep stay at home orders intact.

The average price of unleaded self-serve gasoline in Bradford is $2.128; in Brookville, $2.089; in DuBois, $2.104; in Erie, $2.066; and in Warren, $2.159.

State gas price averages increased for less than a dozen states in the last week, but they were large enough jumps to push an increase to the national average. At $1.78, today’s average is a penny more expensive than last week, 16 cents less than a month ago and $1.11 cheaper than at this point last year.

As some states begin to re-open businesses, they will likely see demand increase and pump prices will likely follow suit. Although U.S. gasoline demand has incrementally increased, it remains below 6 million b/d.

bradford

The Bradford Era

More by this Author
MCHS to present “History of Surveying”
Marcie 
November 21, 2024
SMETHPORT — McKean County Historical Society will sponsor a program on “History of Surveying” at Hamlin Memorial Library in Smethport at 7 p.m. on May...
Read More...
Local & Social