Northeast Ohio gas prices held steady this week at $2.423 per gallon, according to AAA East Central’s Gas Price Report.
Motorists in five Great Lakes and Central states are among the minority in the country seeing pump price decreases on the week, including Ohio (-8 cents). All other states in the region are paying one to five cents more at the pump for a gallon of regular gasoline compared to last Monday.
While a few states in the region are welcoming cheaper gas prices this week, there are no cost savings at the pump compared to this time last year - gas prices in Ohio are 27 cents on average over the year.
Gasoline inventory built in the region for the fourth week in a row, albeit it just adding 300,000 barrels. At 53 million barrels, inventories are in line with this time last year, according to the latest Energy Information Administration (EIA) report.
This week’s average prices: Northeast Ohio Average: $2.423
Average price during the week of January 16, 2018: $2.420
Average price during the week of January 23, 2017: $2.188
Average prices of the unleaded self-service gasoline in various areas:
$2.503 New Philadelphia
On the National Front
Today’s national gas price average is $2.54, which is only one cent more than last week. The EIA reports that while gasoline demand modestly decreased, inventory increased by 3.6 million barrels. Combined, these two factors resulted in minimal impact on the national average this week. On the week, gas prices increased in 41 states with Florida seeing the largest jump at the pump with a nine-cent increase.
At the close of Friday’s formal trading session on the NYMEX, West Texas Intermediate dropped 58 cents to settle at $63.37. Oil prices slid after EIA’s latest petroleum report underscored that domestic crude production in the U.S. continues to grow. On the week, U.S. production increased by 258,000 b/d to 9.750 million b/d.
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