Northeast Ohio gas prices are up by almost three cents this week to $2.333 per gallon according to AAA East Central’s Gas Price Report.
Gas prices have increased in most Great Lakes and Central states on the week. With a 9-cent jump, Ohio is seeing the largest increase in the country and region. Only four of the 13 states in the region saw prices decrease.
Compared to last month, every motorist in the region is seeing a cost savings at the pump (Ohio, -6).
On the week, gasoline inventories built by 1.7 million barrels to register at 60 million. This is the largest inventory total the Great Lakes and Central region has seen this year and on par with levels this time last year, according to the Energy Information Administration (EIA).
This week’s average prices: Northeast Ohio Average: $2.333
Average price during the week of February 26, 2018: $2.309
Average price during the week of March 6, 2017 :$2.208
Average prices of the unleaded self-service gasoline in various areas:
$2.345 New Philadelphia
On the National Front
Following three weeks of pump price declines, half of the country is seeing gas prices climb as much as 9 cents on the week. At $2.53, the national gas prices average is one cent more than last Monday with 25 states seeing gas prices increases. That being said, 63% of motorists in the United States can fill up for $2.50/gallon or less.
Today, gas prices are 8 cents cheaper from last month. However, they are still 22 cents more expensive than this time last year.
After losses throughout last week, West Texas Intermediate increased 26 cents to settle at $61.25 at the close of Friday’s formal trading session on the NYMEX. The losses earlier in the week came after EIA's petroleum report revealed that crude oil inventories grew by 3 million barrels last week. Moreover, crude runs at refineries inched up to 15.9 million barrels per day, marking slower than expected growth. At the same time, domestic crude production continues to boom at 10.3 million b/d, which could cause inventories to continue to increase.
Motorists can find current gas prices at GasPrices.AAA.com.
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