Categories: Pennsylvania Business NewsPennsylvania News

Pennsylvania Gas Prices Decrease Slightly to $3.20

A gas station in Pennsylvania showcasing the varying gasoline prices across the state.

News Summary

Pennsylvania recorded a modest drop in gasoline prices, now averaging $3.20 per gallon, down 3.4 cents. Compared to last month, prices have fallen by 8.0 cents, and are 46.3 cents lower than last year. While prices vary significantly across the state, cheaper stations report as low as $2.69 per gallon. Nationally, the average price also dropped to $3.07 per gallon. The reduction in prices is attributed to increased refinery output and gasoline supplies, despite some local fluctuations due to seasonal transitions.

Pennsylvania experienced a slight decrease in average gasoline prices, which fell by 3.4 cents per gallon, bringing the average to $3.20 per gallon as of Monday. This price represents an 8.0 cents per gallon reduction compared to a month ago and is 46.3 cents per gallon lower than the same time last year. The prices vary significantly across the state; the cheapest gas station was reported at $2.69 per gallon, while the highest was at $4.39, resulting in a price difference of $1.70 per gallon.

On a national scale, the average price of gasoline has also seen a minor decline, dropping 1.8 cents per gallon to $3.07 per gallon. This reflects a decrease of 5.2 cents from the previous month and is 32.8 cents lower than a year ago. The average price for diesel fuel in the country has decreased by 1.7 cents to $3.448 per gallon.

According to data collected from a survey of 5,269 gas stations throughout Pennsylvania, the drop in gasoline prices can largely be attributed to refineries increasing their output and a rise in gasoline supplies. While some states are experiencing price cycling, a general downward trend in gas prices is anticipated as summer approaches.

In Western Pennsylvania specifically, average gas prices decreased by 6 cents to $3.339 per gallon. Prices within local counties vary, with Jefferson County averaging $3.242, Clarion County at $3.351, and Clearfield County at $3.354 for regular unleaded gasoline. In urban areas, prices differ as well: Altoona reports $3.387, Beaver shows $3.473, Bradford at $3.598, Brookville at $3.201, and Pittsburgh at $3.416.

On a broader level, national gasoline demand has declined significantly, dropping from 9.45 million barrels per day to 8.26 million barrels, according to the Energy Information Administration. Conversely, the total domestic gasoline supply has risen from 223.1 million barrels to 228.3 million barrels, with production averaging 9 million barrels per day last week. Meanwhile, the price of West Texas Intermediate crude oil has also seen a dip, falling to $62.85 a barrel, reflecting a drop of 56 cents from the previous session.

Despite these overall declines, the transition from winter blend to summer blend gasoline has caused some localized increases in gas prices. In Western Pennsylvania, for example, a 17-cent increase was noted due to refinery maintenance associated with this seasonal transition. AAA has reported that, on average, Pennsylvania’s gas prices stand at $3.37 per gallon, with prices in Western Pennsylvania averaging $3.63 per gallon. This disparity is largely attributed to increased transportation costs from refineries in those regions.

With crude oil inventories currently at 436.1 million barrels—which is approximately 7% below the five-year average for this time of year—drivers in Pennsylvania are likely to continue observing fluctuations in gas prices as refineries navigate seasonal demands and market dynamics.

As consumers look for savings at the pump, the price variations and the decreasing trend could provide some relief during the busy summer travel season.