In Western Pennsylvania gas has dropped to $4.140 per gallon according to AAA East Central’s Gas Price Report. The national average has decreased eight cents within the last week to $4.04 and the price for a barrel of crude oil continues to drop below $100.
Maritime traffic through the Strait of Hormuz is still an ongoing issue as well as regional tensions continuing to persist. The national average is 13 cents more than a month ago and 89 cents more than a year ago.
The Energy Information Administration (EIA) has found that gasoline demand has increased from 8.56 million barrels to 9.08 million. Domestic gasoline supply has dropped from 239.3 million to 232.9 million. Production for gasoline has increased to an average of 9.8 million barrels each day.
West Texas Intermediate rose 0.01 cent at the end of Wednesday’s formal trading to land at $91.29 a barrel. Inventories for crude oil decreased by 0.9 million barrels from the week prior.
U.S. crude oil inventories are at 463.8 million barrels which is 1% above the five-year average for this time of the year.
EV charging stations are remaining steady at 41 cents.