Gas prices fall in region but not here

Gas prices may be falling in the region.

But the trend isn’t reflected here.

The regional price is down four cents to $3.90 over the last two weeks but remains steady in Warren at $3.998, just behind Oil City and Mercer at $3.999, according to AAA East Central’s Gas Price Report.

“The decline in pump prices accelerated a bit since last week, with the national average falling 11 cents to $3.70,” the Report details. “The primary reasons are slack demand and the lower cost of oil, which is hovering near $85 per barrel.”

The cost was driven down by a corresponding increase in supply.

“Oil prices fell sharply due to rising market concern that if interest rates continue to increase, the economy could tip into a recession,” the Report details. “If a recession occurs, crude demand and prices would likely drop.”

The Report’s further detail a period of “lower-demand fall driving.”


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