Gas prices climb nationally


Gas prices have gone up significantly not only statewide but nationally as well, according to a news release and statistics from the American Automobile Association (AAA).

Concerning Hillsboro, when The Times-Gazette last reported on gas prices on June 2, 2023, the price at one location was $3.34, whereas now at the same location, it is $3.53.

That climb has also been seen statewide and nationwide, according to AAA.

AAA statistics for the national gas prices, updated on Tuesday, showed that the current gas price was $3.592 across the country, with that average up from $3.537 last month at this time.

“It appears that our seasonal surge in driving may be kicking off a bit before the official start of summer,” Andrew Gross, AAA spokesperson, said. “

The release said new information from the Energy Information Administration (EIA) said gas demand rose from 9.1 million barrels per day to 9.22 b/d as the total domestic gasoline stock went down to by 2.7 million barrels (bbl) to 218.8 million bbl.

The release also said that even though gas demand fell, the increased stock and “fluctuating” oil prices have made the increases not as much as they could be.

“At the close of Wednesday’s formal trading session, WTI increased by 79 cents to settle at $72.53,” the AAA news release said. “Oil prices rose yesterday amid market optimism that summer demand may be more robust than expected, pushing prices higher than expected. Price increases have been capped this week despite the announcement from the Organization of the Petroleum Exporting Countries (OPEC) and its allies, including Russia, known as OPEC+, that member nations would continue to keep their production reduction agreement from May 2023 in place through 2024, and Saudi Arabia approved an additional cut of 1 million b/d starting in July 2023. Additionally, the EIA reported that total domestic commercial crude inventories decreased by 500,000 bbl to 459.2 million bbl last week.”

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 $3.601 as of Tuesday. That is an increase from one week ago when the price per gallon was $3.374, according to AAA.

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

*Chillicothe — The lowest price was $3.21 at Valero.

*Greenfield — The lowest price was $3.57 at Marathon.

*Hillsboro — The lowest price was $3.52 at Murphy USA.

*Mount Orab — The lowest price was $3.69 at multiple places.

*Wilmington — The lowest price was $3.49 at Shop and Go.

Reach Jacob Clary at 937-402-2570.

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