Gas price down a bit in county


The price of gas went down by a small amount nationally and by more than 10 cents in Ohio, according to an American Automobile Association (AAA) news release and statistics updated on Thursday on its website.

The AAA news release said that OPEC+’s “decision” to continue its current production levels and not make any cuts led to lower oil prices, which helped lead gas prices down. However, the announcement last Friday about 517,000 jobs being added in January and unemployment being at a 54-year low of 3.4 percent “may have the opposite effect.”

“Keep an eye on the price of oil,” Andrew Gross, AAA spokesperson, said. “Because oil currently accounts for nearly 60% of what we pay at the pump. And rising or falling oil prices can have a direct impact on motorists’ wallets.”

The release said new information from the Energy Information Administration (EIA) said gas demand rose from 8.14 million barrels per day to 8.49 b/d while the total domestic gasoline stock rose by 2.6 million barrels (bbl) to 234.6 million bbl.

“At the close of Friday’s formal trading session, WTI decreased by $2.49 to settle at $73.39,” the AAA news release said. “Crude prices fell last week amid ongoing market concerns that if a recession occurs this year, crude demand and prices would likely decline. Additionally, crude prices dropped after the EIA reported that total commercial stocks increased by 4.2 million bbl to 452.7 million bbl.”

AAA said Ohio had the 32nd 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 $3.300 as of Thursday. That is a decrease from one week ago when the price per gallon was $3.416, according to AAA. One month ago, the average price was $3.291.

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

* Chillicothe — The lowest price was $3.11 at Murphy USA.

* Greenfield — The lowest price was $2.99 at Marathon.

* Hillsboro — The lowest price was $2.96 at multiple places.

* Mount Orab — The lowest price was $3.19 at multiple places.

* Wilmington — The lowest price was $3.15 at One9 Fuel Stop.

Reach Jacob Clary at 937-402-2570.

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