Gas prices a mixed bag
Gas prices were a mixed bag across the region, state and nation this week. Bradford’s prices barely budged, while Warren’s actually dropped 3.4 cents but Erie’s average leaped nearly a dime.
According to AAA East Central, local gas prices checked in a $3.597 per gallon Monday, down one-tenth of 1 cent, while Warren’s registered at $3.619. In Erie, prices were up 9.7 cents to $3.356. DuBois ticked up slightly, one half of 1 cent, to $3.316 and Brookville decreased slightly, by 2.4 cents, to $3.077.
The region’s average overall is up 2.3 cents this week to stand at $3.374 per gallon Monday.
Across Pennsylvania, prices are up 6 cents per gallon to $3.24 this week. Nationwide, this week’s average of $3.11 per gallon is 1 cent more than last week. Diesel is down only slightly across the country this week, one-tenth of 1 cent to $3.708.
“It was another relatively tame week at the pump, with the national average inching up for the second straight week as oil prices briefly touched the $70 per barrel mark before sliding late in the week on news that OPEC+ will raise oil production again in September,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “While price cycling led gas prices in some states to see double-digit increases or decreases, most saw only modest fluctuations. With OPEC+ now fully restoring production to 2023 levels — and fresh economic concerns arising from a weak jobs report and renewed tariff threats — oil prices may continue to face headwinds, potentially paving the way for a decline in gas prices in the weeks ahead.”
Also according to GasBuddy, Pennsylvania prices are 7.4 cents per gallon lower than a month ago and 31.3 cents lower than a year ago. The national average is 1.3 cents more than a month ago, but still 32.8 cents lower than last year.
AAA representatives indicated that the last time summer gasoline prices were this low nationwide was four years ago, July 2021.
“With one month remaining in the summer driving season … crude oil prices have gone up slightly, as gas demand has also risen, but not enough to drive up prices at the pump,” AAA officials said.
According to new data from the Energy Information Administration (EIA), gasoline demand increased from 8.96 million barrels per day last week to 9.15. Total domestic gasoline supply decreased from 231.1 million barrels to 228.4. Gasoline production increased last week, averaging 10 million barrels per day.
At the close of Wednesday’s formal trading session, West Texas Intermediate rose 79 cents to settle at $70 a barrel. The EIA reports crude oil inventories increased by 7.7 million barrels from the previous week. At 426.7 million barrels, U.S. crude oil inventories are about 6% below the five-year average for this time of year.
Motorists can find current gas prices nationwide, statewide and countywide at gasprices.aaa.com.