Home Erie News AAA: National Average Drops Below $4

AAA: National Average Drops Below $4

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Photo by GG on Unsplash.

Gas prices are seven cents lower in Western Pennsylvania this week at $4.330 per gallon, according to AAA East Central’s Gas Price Report.

Motorists are getting a break at the pump as the summer travel season heats up. For the first time since mid-March, the national average for a gallon of regular gasoline is down to $3.92. This marks nearly four straight weeks of declines. Crude oil prices continue to fall as the U.S. and Iran work on a deal to reopen the Strait of Hormuz. Sliding gas prices come as millions of Americans prepare to travel for Independence Day in record numbers starting next weekend. Today’s national average is 63 cents less than a month ago but 71 cents more than a year ago.

According to new data from the Energy Information Administration (EIA), gasoline demand increased last week from 8.73 million barrels per day to 9.21 million. Total domestic gasoline supply decreased from 215.1 million barrels to 214.2 million. Gasoline production increased last week, averaging 10.1 million barrels per day.

At the close of Wednesday’s formal trading session, West Texas Intermediate rose 74 cents to settle at $76.79 a barrel. The EIA reports crude oil inventories decreased by 8.3 million barrels from the previous week. At 418.2 million barrels, U.S. crude oil inventories are about 6% below the five-year average for this time of year.

The national average per kilowatt hour of electricity at a public EV charging station went down one cent this past week to 41 cents.

Western Pennsylvania Averages

TodayOne Week AgoOne Year AgoRecord Price DateRecord Price
$4.330$4.408$3.5916/13/2022$5.029

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

$4.150      Altoona
$4.617      Beaver
$4.364      Bradford
$4.263      Brookville
$4.402      Butler
$4.222      Clarion
$4.269      DuBois
$3.927      Erie
$4.137      Greensburg
$4.401      Indiana
$4.146      Jeannette
$4.578      Kittanning
$4.301      Latrobe
$4.290      Meadville
$4.425      Mercer
$4.415      New Castle
$4.514      New Kensington
$4.644      Oil City
$4.534      Pittsburgh
$3.914      Sharon
$4.565      Uniontown
$4.017      Warren
$4.449      Washington