Gas prices continued their downward trend again this week in Northeast Ohio, this time falling by an average of five cents to $2.286 per gallon, according to AAA East Central’s Gas Price Report.
Every state in the Great Lakes and Central States region is paying less for regular gasoline on the week. The region’s pump price drop comes alongside a large 1.5 million barrel drop in overall gasoline inventory. According to the Energy Information Administration (EIA), this was the largest inventory drop of all regions in the country. At 50 million barrels, total levels are on par with inventory last year at this time.
This week’s average prices: Northeast Ohio Average: $2.286
Average price during the week of October 2, 2017: $2.339
Average price during the week of October 12, 2016: $2.263
Average prices of the unleaded self-service gasoline in various areas:
$2.297 New Philadelphia
On the National Front
Motorists are paying on average six cents less for a gallon of gasoline on the week with all states seeing prices at the pump either drop or hold steady. Today’s national gas price average is $2.49, which is 18 cents cheaper than a month ago. With the latest EIA report measuring gasoline demand at 9.2 million barrels per day, down 281,000 from the week prior, retail gas prices are showing steady promise of returning to pre-hurricane rates.
Over the weekend, Hurricane Nate made landfall over the Gulf Coast and is now a tropical depression. Ahead of the storm, many Gulf Coast oil platforms and rigs were shut down and employees evacuated. In addition, two refineries, accounting for six percent of total Gulf Coast refining capacity, shut down. Early reports speculate that refineries did not sustain damage and operations could start up today, Monday. Overall, motorists will see minimal to no impact to gas prices in the region hit by the storm.
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. 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