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    Home Business Gas prices show little movement
    Gas prices show little movement
    Business, Local
    July 31, 2018

    Gas prices show little movement

    PITTSBURGH — Gas prices in Western Pennsylvania are down fractions of a penny this week to $3.082 per gallon, according to AAA East Central’s Gas Price Report.  

    Gas prices are volatile across the Mid-Atlantic and Northeast region, with the biggest changes in prices being +3 cents and -4 cents. Statewide, Pennsylvania gas prices are one cent higher week-over-week at $3.04/gallon.  

    With a nearly one million barrel decline, the region saw the largest drop in gasoline inventories in the country on the week, according to Energy Information Administration (EIA) data. Even still, at 65.2 million barrels, the region has a 3 million barrel inventory surplus compared to last year at this time which could continue to help stabilize gas prices in the region.  

    The average price of unleaded self-serve gasoline in Bradford was $3.071; Brookville, $3.175; Clarion, $2.935; Erie, $3.082; and Warren, $3.144.

    As U.S. gasoline demand strengthened and supply declined, the national gas price average increased by two-cents on the week to land at $2.86. According to the latest EIA report, total crude inventories fell on the week and now register at 405 million barrels, which is 80 million lower than levels at the same time last year.

    Tags:

    average barrel chemistry economics energy information administration gas inventory motor vehicle price surplus

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