Gas prices rise slightly, as U.S. volatility wanes
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Gasoline prices rose across Western Pennsylvania for the first time in four weeks. But like the three small declines that preceded it, the upward bump was minimal.
A gallon of unleaded self-serve this week averages $3.000, seven-tenths of a cent higher than a week ago, AAA East Central reported. The agency monitors prices in 23 cities and towns in the region, where they have risen in 11 of 15 weeks this year.
This week’s figure is 85.3 cents a gallon higher than it was a year ago, at $2.147.
The greater Washington area experienced a 3.4-cent increase this week, to $2.888. But despite the bump, that is 11.2 cents lower than the regional average and the third-lowest price in Western Pennsylvania. Only New Castle ($2.839) and Sharon ($2.868) have cheaper fuel.
Washington’s figure, however, is 42.1 cents higher than it was on Jan. 1.
Uniontown’s price dipped by three-tenths of a penny to $2.981, ninth-lowest in Western Pennsylvania. Mercer, Oil City and Warren have the region’s priciest petrol, all at $3.099. That figure has remained the same in those towns for the past three weeks.
The statewide average dropped by a penny to $2.968, about 11 cents above the U.S. figure of $2.86. The national average decreased by a cent, but is up three cents over the month and $1.00 higher than a year ago. Averages in 40 states, according to AAA, either stayed the same or increased or decreased by only one cent.
Pump price stability in recent weeks is attributed to a small increase in demand, lower crude oil prices and a rise in refinery utilization. Refinery usage is at 84%, the highest measurement in 2021. Crude prices stayed below $60 per barrel for five days in a row last week, the first time that has occurred in about two months.
The price of crude may keep the national average below $3. Crude, according to AAA, accounts for about 60% of the pump price, and its cost has fallen from a 12-month high of $66 a gallon a month ago to $60.