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Gas prices remain steady in Pennsylvania

The average price for a gallon of gas in Pennsylvania remained steady this week, according to AAA East Central’s Gas Price Report.

The average price on Aug. 15 was $3.908 per gallon compared to $3.91 on Aug. 8. The average price on Aug. 15, 2022 was $4.29.

In the Lehigh Valley, the average price on Tuesday was $3.826.

The national average for a gallon of gas is up almost four cents over the past week and is now at $3.862. This latest price increase comes after an uptick in gas demand and crude oil prices staying above $80 per barrel. Today’s national average is almost 30 cents more than a month ago but nine cents less than a year ago.

According to new data from the Energy Information Administration (EIA), gas demand jumped from 8.84 to 9.30 million barrels per day last week. Meanwhile, total domestic gasoline stocks decreased from 219.1 to 216.4 million barrels.

Higher demand, amid tighter supply, has helped to keep pump prices elevated.

At the close of Wednesday’s formal trading session, West Texas Intermediate increased by $1.48 to settle at $84.40. The price of oil has not been this high since mid-April 2023.