Region’s gas prices on the rise


News Journal



After increasing by six cents last week, the average price of gasoline across South Central Ohio is nine cents more expensive this week at $2.362 per gallon, according to AAA East Central’s Gas Price Report.

Gas prices increased on the week as much as 15 cents across the Great Lakes and Central states (Ohio, +9 cents). With a 773,000-barrel build, regional inventories measure slightly above the 59 million mark, according to Energy Information Administration (EIA) data. The region was just one of two in the country to see refinery utilization increase indicating that some refineries may have finished unplanned maintenance since January due to severe winter weather.

This week’s average prices: South Central Ohio Average: $2.362

Average price during the week of Feb. 19, 2019 $2.270

Average price during the week of Feb. 26, 2018 $2.316

Nationally

Motorists can fill up for $2.50 or less at most gas stations throughout the country, despite more than 40 states seeing gas price averages increase on the week. At $2.39, the national gas price average is eight cents more expensive than last week and 12 cents more expensive than last month, yet remains 12 cents cheaper year-over-year.

Nationwide, refineries have been undergoing maintenance, partly unplanned as the result of poor weather, and partly to prepare to produce spring and summer gasoline. Even with pump prices on the rise, mostly decreasing demand has helped to offset major increases, keeping gas under $2.50 for most of the country.

At the close of Friday’s formal trading session on the NYMEX, West Texas Intermediate increased 30 cents to settle at $57.26 – setting a new high for crude prices this year. If crude prices sustain at these higher levels, they could potentially send pump prices higher this spring.

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.

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News Journal