Gas prices continue to rise as record profits reported
Gas prices continue to rise throughout the region.
And Pennsylvania’s newest Senator has vowed a response to what he calls “price gouging.”
According to AAA data, gas prices in western Pennsylvania rose nine cents on average to $3.865 this week. That marks a nearly 40 cent increase over the same week in 2022.
The highest price in the region can be found in Oil City at $3.889. The price listed for Warren is $3.889.
Those looking for the cheapest gas in the region, per the data, will find it for $3.796 in New Castle.
According to an analysis by AAA, last week saw daily one- to four-cent increases before a slow and slight dip over the weekend and into this week.
Increased demand and higher global oil prices are the drivers behind the increase.
“Although a higher dollar contributed to pushing prices lower at the end of the week, oil prices rose earlier last week amid ongoing market optimism that global oil demand will be more robust than anticipated in 2023,” according to the analysis. “This is partly due to China re-opening its economy after imposing strict COVID-19 lockdowns that curtailed demand.”
U.S. Sen. John Fetterman also on Monday highlighted announcements from Exxon and Chevron that reported record profits for 2022.
“This summer, families across PA paid $5 a gallon for gas while Exxon made profits that ‘smashed earnings records’ and Chevron posted ‘record earnings.'” Fetterman said. This price gouging is simply disgusting, and I’m going to get to the bottom of it.”





