Kittanning Gas Prices Are Second Highest in Region

In a recent report by the American Automobile Association (AAA), gas prices in Armstrong County were the second highest in western Pennsylvania. Warren, PA had the most expensive gasoline at the pump.

Pump prices across the Mid-Atlantic and Northeast states are making small jumps and decreases this week. In Pennsylvania, gasoline is about a cent higher this week at $2.48/gallon. The average price at Armstrong County pumps remain at $2.56.

Average price during the week of January 7, 2019: $2.446

Average price during the week of January 16, 2018: $2.785

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

$2.511      Altoona $2.480     Beaver
$2.537      Bradford $2.572      Brookville
$2.323     Butler $2.424     Clarion
$2.513      Du Bois $2.456      Erie
$2.411      Greensburg $2.554      Indiana
$2.467      Jeannette $2.563      Kittanning
$2.372      Latrobe $2.449      Meadville
$2.470      Mercer $2.237      New Castle
$2.536      New Ken $2.506      Pittsburgh
$2.283      Sharon $2.519      Uniontown
$2.639      Warren $2.485      Washington

As demand remains low, gasoline stocks continued to grow this week adding 2.5 million barrels.  Energy Information Administration (EIA) data shows stocks sit at a 7.6 million surplus year-over-year, which should help to keep increases minimal for the winter.

On the National Front
At a penny more expensive on the week, the national gas price average ($2.25) increased for the first time since October.  Despite the increase, today’s average is still cheaper month-over-month (-14 cents) and year-over-year (-28 cents).

The price of crude oil has been slowly, but steadily increasing since the beginning of the year, which is starting to push up pump prices.  At the close of Friday’s formal trading session on the NYMEX, West Texas Intermediate decreased $1.00 to settle at $51.59.  Overall, crude prices increased last week due to optimism that the trade tensions between China and the U.S. may be subsiding.  Reduced trade
volatility will likely help curtail stalled global economic growth that could have reduced global demand for crude.

Last week saw not only more expensive crude oil, but a sizeable build in U.S. gasoline stocks and a small increase in demand.  Overall demand has been low lately, contributing to the growth in stocks and helping to keep gas prices lower despite increasing crude prices.

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

AAA East Central is a not-for-profit association with 80 local offices in Kentucky, New York, Ohio, Pennsylvania and West Virginia serving 2.7 million members.  News releases are available at news.eastcentral.aaa.com