Region’s gas prices decline slightly

Western Pennsylvania gas prices are down 3 cents to $3.481 this week, according to AAA East Central.

On the National Front

Wednesday’s national average price for regular unleaded gasoline is $3.48 per gallon. The price has seen little movement from last week, but is 15 cents less than one month ago. The national average is 31 cents lower than the peak price this year of $3.79 on February 27.

The recent downward trend in retail prices have largely been the product of regional supply disruptions being resolved. Prices paid by impacted motorists have retreated from lofty highs as refineries have come back online and production has returned to normal levels.

Although retail gasoline prices have continued to inch lower in recent weeks, rising crude oil prices could mean the national average price at the pump is near its summer-low. In 2011 the national average reached a seasonal-low of $3.54 per gallon on June 30. In 2012 it bottomed at $3.33 on July 2.

West Texas Intermediate (WTI) crude oil traded in a relatively narrow range of $93-99 per barrel during the month of June. Prices began last week within this same range but quickly moved higher on escalating protests in Egypt and positive economic news as the holiday-shortened week progressed. On Wednesday oil prices settled above $100 per barrel for the first time since May 3, 2012. As was the case in 2011 when then-President Hosni Mubarak stepped down following violent demonstrations, unrest in Egypt raises concerns of potential disruptions at the Suez Canal – a major shipping route for oil – and the possibility that unrest might spread to other countries in the Middle East and North Africa.

This week’s Western PA average price: $ 3.481

Average price during the week of July 2, 2013: $ 3.513

Average price during the week of July 10, 2012: $ 3.406

The following is a list of the average price of unleaded self-serve gasoline in various areas:

$ 3.491, Altoona,

$ 3.502, Beaver,

$ 3.497, Bradford,

$ 3.427, Brookville,

$ 3.525, Butler,

$ 3.496, Clarion,

$ 3.456, Du Bois,

$ 3.303, Erie,

$ 3.529, Greensburg,

$ 3.504, Indiana,

$ 3.505, Jeanette,

$ 3.500, Kittanning,

$ 3.493, Latrobe,

$ 3.490, Meadville,

$ 3.520, Mercer,

$ 3.378, New Castle,

$ 3.511, New Kensington,

$ 3.532, Pittsburgh,

$ 3.510, Sharon,

$ 3.476, Uniontown,

$ 3.397, Warren,

$ 3.549, Washington