Gas prices fall following holiday


Gas prices have fallen off after the holiday last week but haven’t completely recovered from a big August climb, according to a news release and statistics from the American Automobile Association (AAA).

That fall has been seen both nationwide and statewide, according to AAA.

It said Ohio had the 42nd 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 $3.511 as of Monday. That is a fall from one week ago when the price per gallon was $3.600, according to AAA. One month ago, the average gas price was $3.631 per gallon.

“Pump prices appear to be defying the odds at the moment, despite the surge in the cost of oil,” Andrew Gross, AAA spokesperson, said. “This uneasy balancing act may last until we get beyond hurricane season and its threats to Gulf Coast oil and gas production and refining.”

The release said new information from the Energy Information Administration (EIA) said gas demand rose from 9.07 million barrels per day to 9.32 million b/d as the total domestic gasoline stock fell by 2.7 million barrels (bbl) to 214.7 million bbl.

The release also said that the rising oil prices, falling supply and climb in gasoline demand “may” see prices at the pump go up.

“At the close of Wednesday’s formal trading session, WTI increased by 85 cents to settle at $87.54,” the AAA news release said. “The price of oil has increased this week amid news that Saudi Arabia plans to continue its voluntary 1 million b/d production cut through the end of the year. Tight supply could boost oil prices if demand remains robust. Additionally, the EIA reported that total domestic commercial crude inventories decreased significantly from 422.9 to 416.6 million bbl.”

AAA statistics for the national gas prices, updated on Monday, showed that the current gas price was $3.832 across the country, with that average down slightly from $3.841 last month at this time and substantially up from $3.718 at this time in last year.

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

* Chillicothe — The lowest price was $3.43 at Murphy USA.

* Greenfield — The lowest price was $3.49 at Marathon.

* Hillsboro — The lowest price was $3.42 at Marathon.

* Mount Orab — The lowest price was $3.59 at multiple places.

* Wilmington — The lowest price was $3.33 at United Dairy Farmers.

Reach Jacob Clary at 937-402-2570.

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