Gasoline prices have increased slightly in Western Pennsylvania following weeks of declines.
The current average price for a gallon of regular, unleaded gasoline is $3.459, up five cents per gallon from a week ago, according to AAA’s Fuel Gauge.
After approaching the $100-per-barrel threshold to end last week, crude oil prices declined slightly in Monday’s trading. Crude oil prices increased last week on tightening U.S. inventories, hopes that euro zone leaders were moving to contain that region’s debt crisis, and weakness in the U.S. dollar. The Department of Energy's weekly report showed domestic crude stocks 1.6 million barrels lower than the week prior, putting upward pressure on prices.
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Economic strength in Europe put downward pressure on the dollar as investors viewed those economies as a relatively more sound investment, AAA reports.
Today’s average price is still 4.6 cents cheaper than one month ago, but is 51.9 cents more expensive than one year ago.
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Local prices to compare:
Super Premium
$3.459 $3.559
$3.759 (full service)
$4.229 $4.369
$4.519 $3.459 $3.559
$3.759
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