Regional gas prices spike, but Washington largely spared
Gasoline prices jumped across Western Pennsylvania – and most of the nation, actually – in the aftermath of the drone attacks on Saudi Arabian oil facilities a week and a half ago.
The average price of a gallon of unleaded self-serve skyrocketed to $2.884 in the region this week, up 12.6 cents from $2.758, AAA East Central reported Monday afternoon. That was a second consecutive increase following eight straight weekly decreases. Gas, however, is 23.4 cents cheaper than it was at this time last year.
Fuel prices went up in Washington this week, but not as much as they did in other local locales. Washington’s price is $2.800, up 4.8 cents from $2.752. That is third lowest among 22 Western Pennsylvania cities and towns monitored by AAA. Washington’s figure has dropped 17.2 cents over the past seven weeks.
Altoona, for the 21st time in 22 weeks, has the cheapest gasoline in the region with an average of $2.645. New Castle ($2.765) had the second-lowest average. Uniontown ranked 18th at $2.950.
Jeannette is listed as having the most expensive fuel ($2.968), and Erie ($2.961) the second highest.
Pennsylvania’s average increased nine cents, while prices jumped 10 cents or more in four other states in the Mid-Atlantic and Northeast region. The attacks, however, had a small impact on most states in the region, due to the switchover last week to winter-blend, which is less expensive.
Regional gas inventory plummeted for a second consecutive week, this time by 1.2 million barrels to 62.3 million. That’s about 3.5 million lower than at this time last year, according to the Energy Information Administration.
The national average rose precipitously, by 10 cents to $2.66, as half of the states experienced average increases of a dime or more. The current average, though, is six cents lower than it was a month ago and down 19 cents year over year.