PITTSBURGH — The average price of gasoline across Western Pennsylvania is six cents cheaper this week at $2.861 per gallon, according to AAA East Central’s Gas Price Report.
Statewide, Pennsylvania motorists are paying a nickel less at the pump this week at an average of $2.82.
All Mid-Atlantic and Northeast states saw gas prices decline on the week. However, decreases have been moderate (an average of four-cents) in comparison to other regions with double-digit weekly changes.
Regional gas prices are likely to continue decreasing, considering gasoline inventory rose by nearly 2 million barrels on the week. According to the Energy Information Administration (EIA), this was the largest build of any region. Much of the increase can be attributed to imports, as regional refinery utilization saw a 2 percent drop this week.
The average price of unleaded self-serve gasoline in Bradford is $2.905; in Brookville, $2.941; in Erie, $2.933; and in Warren, $2.959.
Today’s national gas price average ($2.64) is seven cents cheaper on the week, 13-cents less than a month ago, and 21-cents cheaper than a year ago.
This week’s decline is largely due to an increase in domestic gasoline inventory, which outpaced a weekly increase in demand. According to the EIA’s latest data, stocks built by 4.4 million barrels. Contributing to the build was at least 1.2 million b/d of imports at U.S. ports. With the large bump, stocks now sit 235 million barrels — a U.S. stock level not seen since the end of March.