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Gas prices rise 2 cents in a week

Gas prices in Pennsylvania are almost 2 cents higher this week at $3.649 per gallon, according to AAA East Central’s Gas Price Report.

In the Lehigh Valley, the average price on Jan. 9 was $3.508. A year ago on that date, the average price was $3.496 in the Lehigh Valley.

After the recent surge in gas prices caused by frigid weather and robust holiday road travel, pump prices fell by a penny over the weekend, but are still seven cents higher than this time last week. The national average of $3.28 on Jan. 9 is 2.5 cents less than a month ago and 3.4 cents less than a year ago.

According to data from the Energy Information Administration, gas demand dropped from 9.33 million barrels per day to 7.51 million barrels per day last week. Meanwhile, total domestic gasoline stocks fell by 300,000 barrels to 222.7 million barrels. Lower gasoline demand has contributed to limiting increases in pump prices.

At the close of Friday’s formal trading session, West Texas Intermediate increased by 10 cents to settle at $73.77. A lower dollar helped to push crude prices higher at the end of the week. However, crude prices declined earlier in the week amid ongoing global economic concerns due to rising COVID-19 cases in China.

Motorists can find current gas prices nationwide, statewide, and countywide at GasPrices.AAA.com.