Gas prices in Northeast Ohio dropped by almost three cents this week to $2.131 per gallon, according to AAA East Central’s Gas Price Report.
One of the most volatile regions as of late, the Great Lakes and Central States saw some stability on the week. Ten states saw prices decrease on average by 2 cents. Statewide, Ohio (+4 cents) is one of the only three states in the country to see an increase this week. For the first time in three weeks, gasoline inventory declined. According to the Energy Information Administration (EIA), inventory sits at nearly 55 million barrels, similar to this time last year inventory levels.
This week’s average prices: Northeast Ohio Average $2.131
Average price during the week of June 19, 2017 $2.156
Average price during the week of June 27, 2016 $2.368
Average prices of the unleaded self-service gasoline in various areas:
$2.182 New Philadelphia
On the National Front
Despite a surge in gasoline demand on the week, the national average price for gasoline is nearing an all-time low for the year at $2.26/gallon. On the week, gas prices fell in all but three states, and the national average has fallen for 24 consecutive days. Today’s national average is three cents cheaper than a week ago and eleven cents cheaper than a month ago. Heading into Independence Day weekend, gasoline is four cents less than a year ago.
Record refinery rates and high gasoline and crude inventory are among the contributing factors causing the downward price trend. Refinery production has easily met demand from drivers and has left gasoline stockpiles at high levels. This is good news for people planning to travel for the Independence Day holiday. AAA forecasts 37.5 million Americans will drive to their holiday destination, which potentially can mean a small increase in holiday weekend gas prices. But in light of the gasoline surplus, the increase may amount to pennies at most.
Motorists can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.
AAA East Central is a not-for-profit association with 81 local offices in Kentucky, New York, Ohio, Pennsylvania and West Virginia serving 2.7 million members. Past news releases are available at news.eastcentral.aaa.com. Follow us on Twitter and Facebook.
For More Information, Contact:
Jim Garrity, Public & Community Relations Manager
Desk: 412-365-7274 / Cell: 412-905-9021 / Email: Garrity.James@aaaec.com