South Central Ohio Motorists See One of the Nation’s Largest Hikes at the Pump

Ohio, Gas Prices
Picturesque gas station by Wonderlane
Photo by Wonderlane https://www.flickr.com/photos/wonderlane/ creativecommons.org/licenses/by/4.0/  

The average price of gasoline across South Central Ohio is nearly 13 cents more expensive this week at $2.486 per gallon this week, according to AAA East Central’s Gas Price Report. 

Indiana (+14) and Ohio (+11 cents) saw the largest week-over-week gas price increases of all states in the Great Lakes and Central region and the country.  Gasoline supplies decreased moderately in the region to 58.3 million barrels, according to the Energy Information Administration (EIA).  In the same week, regional refinery utilization decreased by one percent.  If stocks continue to fall, gas prices are likely to continue increasing especially with the switchover to summer-blend gasoline, which is more expensive to produce.

This week's average prices: South Central Ohio Average: $2.486
Average price during the week of March 4, 2019: $2.360
Average price during the week of March 12, 2018: $2.427

The average price of unleaded self-serve gasoline in various areas:  

$2.578       Athens
$2.401       Chillicothe
$2.386       Columbiana
$2.413       East Liverpool
$2.543       Gallipolis
$2.467       Hillsboro
$2.459       Ironton
$2.511       Jackson
$2.517       Logan
$2.506       Marietta
$2.549       Portsmouth
$2.431       Steubenville
$2.525       Washington Court House
$2.514       Waverly

On the National Front
On the week, the national gas price average and that of 26 states jumped a nickel or more.  The national average has been steadily increasing for the last three weeks, currently sitting at $2.47.  During that time, gasoline inventory has gradually decreased while demand has started to increase and crude oil prices have fluctuated.  Combined, these factors are driving up gas prices across the country.  Today’s gas price average is a nickel more than last week, 20 cents more expensive than a month ago, but five cents less than last year.

At the close of Friday’s formal trading session on the NYMEX, West Texas Intermediate dropped 59 cents to settle at $56.07.  Oil prices fell at the end of last week following the release of lower-than-expected job growth data in the U.S. and continued concerns that a slowing global economy could bring weaker global crude demand later this year.  Moving into this week, crude prices may rise as the global crude supply tightens due to OPEC’s 1.2 million b/d production reduction agreement in place through at least June 2019 and U.S-imposed crude export sanctions on Iran and Venezuela.

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

AAA East Central is a not-for-profit association with 80 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 and Legislative Affairs Manager
Desk: 412-365-7274 / Cell: 412-905-9021 / Email: Garrity.James@aaaec.com

-AAA-