Susquehanna Valley gas prices are two cents more expensive this week at $2.485 per gallon, according to AAA East Central’s Gas Price Report.
Only three Mid-Atlantic and Northeast states have more expensive gas price averages on the week, including Pennsylvania (+2 cents). The rest of the region is paying less to fill up as compared to last Monday.
With regional utilization up 2.2 percent to 74.6 and an increase in imports, the region’s gasoline stocks built by 2.3 million barrels for the week ending Feb. 1 — the largest of any region according to Energy Information Administration (EIA) data.
Total stocks register at 71.3 million barrels, which is a number not seen in the region since early 2017, and should help keep fluctuation in gas prices relatively moderate in the week ahead.
Average prices include:
• Susquehanna Valley, this week, $2.485
• Last week, $2.466
• This week in 2018, $2.906
Average prices of unleaded self-serve gasoline in various local areas:
• $2.579, Elysburg
• $2.367, Lewisburg
• $2.520, Mifflinburg
• $2.381, Milton
• $2.513, Mount Carmel
• $2.567, Selinsgrove
• $2.428, Shamokin
• $2.525, Sunbury
On the national front
On the week, the national gas price average is two cents more expensive, landing at $2.28. At the start of the workweek, nearly half of all state averages also saw jumps — some at or more than a dime increase.
Frigid temperatures across much of the country have contributed toward a half a million barrel per day drop in demand to measure at 9 million barrels — a level consistent with a year ago according to the EIA. At the same time, gasoline stocks saw a nominal 513,000-barrel increase for a total of 257.8 million barrels. While demand is mostly flat year-over-year, total stocks sit at a 124-million-barrel surplus.
Crude oil has remained relatively cheap since the beginning of the year, moving between $51 and $55 per barrel.
Motorists can find current gas prices nationwide, statewide, and countywide at GasPrices.AAA.com.