AAA: Pennsylvania Gas Prices Increase; All Eyes on Storms Marco and Laura

Aly Delp

Aly Delp

Published August 25, 2020 4:35 am
AAA: Pennsylvania Gas Prices Increase; All Eyes on Storms Marco and Laura

CLARION CO., Pa. — The average price of gasoline across Western Pennsylvania is two cents higher this week at $2.471 per gallon, according to AAA East Central’s Gas Price Report.

Clarion County drivers are paying an average of $2.484 per gallon for regular unleaded gasoline. In Venango County, the standard price is $2.499. The average in Jefferson County is $2.499.

This week’s average prices: Western Pennsylvania Average $2.471
Average price during the week of August 17, 2020 $2.450
Average price during the week of August 26, 2019 $2.772

The average price of unleaded self-serve gasoline in various areas:

$2.483 Altoona
$2.470 Beaver
$2.479 Bradford
$2.499 Brookville
$2.462 Butler
$2.484 Clarion
$2.469 DuBois
$2.490 Erie
$2.429 Greensburg
$2.496 Indiana
$2.493 Jeannette
$2.446 Kittanning
$2.499 Latrobe
$2.490 Meadville
$2.515 Mercer
$2.389 New Castle
$2.484 New Kensington
$2.499 Oil City
$2.443 Pittsburgh
$2.443 Sharon
$2.487 Uniontown
$2.499 Warren
$2.394 Washington

Trend Analysis:

At $2.18, the national gas price average increased by one cent on the week. The minimal change reflects the slow movement at pumps across the country on the week. Most states saw pump prices fluctuate by a penny, if at all. A few states in the Mid-Atlantic and Mid-West saw more significant jumps, including North Carolina (+7 cents), Kentucky (+6 cents), Virginia (+5 cents) and West Virginia (+5 cents), while Indiana (-5 cents) holds the spot for the largest weekly decrease. The increase in these states could be a result of increased demand, but nationally demand saw a one-week decline.

The Energy Information Administration recorded gasoline stocks at their largest one-week decline since May. Total stocks fell by 4 million barrels down to 243.7 million. Year-over-year, stocks are at a 10 million surplus while demand sits 1.3 million b/d less. U.S refinery utilization rates continue to hover at 80%.

This week the market is watching Tropical Storms Marco and Laura. Marco, whose force is decreasing and is expected to be a tropical depression late on Tuesday, is less of a concern. However, Laura is forecasted to move into the southeastern Gulf of Mexico and become a hurricane by early Tuesday.

According to the U.S. Department of Interior’s Bureau of Safety and Environmental Enforcement, approximately 58 percent, or 1.065 million b/d, of crude production in the Gulf of Mexico has been shuttered ahead of the storms and 114 (18%) platforms evacuated. While gasoline stocks remain at a healthy level, if platforms and rigs are offline for an extended amount of time, supply could tighten and gas prices could be impacted. AAA will continue to monitor activity and provide related gas price updates.

Motorists can find current gas prices nationwide, statewide, and countywide at GasPrices.AAA.com.

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