Gas prices up for the month, but down from last week


The gas price has risen overall since the beginning of the month, according to a news release from the American Automobile Association (AAA), but has fallen compared to the price a week ago.

“Gas prices in California are finally cooling off, as more refineries come back online after undergoing maintenance and the switch to cheaper winter blends takes effect,” Andrew Gross, AAA spokesperson, said. “High West Coast prices have played a major role in the recent climb in the national average for gas. Reversing this trend may help take some pressure off of pump prices.”

Concerning the recent week fall, AAA said fear over a possible global economic recession caused a “major” drop in the price of crude oil. It also said that domestic gasoline demand fell.

The AAA release said the lowered demand and “fluctuating” oil prices have been factors in the national average going down compared to the week prior. It also said that if demand and oil prices continue to drop, prices might fall even further.

The release said new information from the Energy Information Administration (EIA) said gas demand fell from 9.47 million barrels per day (b/d) to 8.28 b/d while the total domestic gasoline stock climbed by two million barrels (bbl) to 209.5 million bbl.

“At the close of Friday’s formal trading session, WTI decreased by $3.50 to settle at $85.61,” the AAA news release said. “Crude prices decreased last week as global economic fears pulled crude prices lower. For this week, crude prices could continue to weaken as interest rates rise globally, which could lead to a recession. If a recession occurs, crude prices would likely reduce alongside demand. Additionally, EIA’s latest weekly report showed that total commercial crude inventories increased by 9.9 million bbl to 439.1 million bbl.”

AAA said Ohio had the 18th highest gas price of all of the states in the county plus Washington, D.C. The site said Ohio’s average price per gallon was $3.783 as of Tuesday. That is a decrease from one week ago when the average price per gallon was $3.909, according to AAA. One month ago, the average price was $3.420.

The lowest area gas prices, according to GasBuddy on Tuesday, were:

* Chillicothe — The lowest price was $3.77 at Murphy USA.

* Greenfield — The lowest price was $3.69 at Marathon.

* Hillsboro — The lowest price was $3.63 at Speedway.

* Mount Orab — The lowest price was $3.99 at multiple places.

* Wilmington — The lowest price was $3.79 at Shop & Go.

Reach Jacob Clary at 937-402-2570.

Ohio ranks 18th highest in price

By Jacob Clary

[email protected]

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