Gas prices see slight fall

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Gas prices have continued to fall since a big climb in the middle of summer that the country is still recovering from, according to a news release and statistics from the American Automobile Association (AAA).

In Hillsboro, when The Times-Gazette last reported on gas prices on Sept. 12, 2023, the price at one location was $3.62, whereas now at the same location it is $3.43.

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

AAA said Ohio had the 41st 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 $3.527 as of Monday. That is a fall from one week ago when the price per gallon was $3.623, according to AAA. One month ago, the average gas price was $3.510 per gallon.

“The recent drop in the national average, while small, is typical this time of year as much of the country makes the switch to less expensive winter blend gasoline,” Andrew Gross, AAA spokesperson, said. “But the gradual seasonal decline in prices is being slowed by higher oil costs.”

The release said new information from the Energy Information Administration said gas demand rose from 8.31 million barrels per day to 8.41 million b/d as the total domestic gasoline stock fell by 800,000 barrels (bbl) to 219.5 million bbl.

“At the close of Wednesday’s formal trading session, WTI decreased by 92 cents to settle at $90.28,” the AAA news release said. “Oil prices decreased yesterday due to ongoing market concerns that energy demand could be lowered if future interest rate increases tip the U.S. economy into a recession. Additionally, prices declined yesterday despite the EIA reporting that total commercial crude stocks decreased by 2.1 million bbl to 418.5 million bbl last week.”

AAA statistics for the national gas prices, updated on Monday, showed that the current gas price was $3.849 across the country, with that average down from $3.881 last week and up slightly from $3.828 at this time last month.

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

* Chillicothe — The lowest price was $3.45 at Murphy USA.

* Greenfield — The lowest price was $3.47 at Marathon.

* Hillsboro — The lowest price was $3.38 at Murphy USA.

* Mount Orab — The lowest price was $3.67 at multiple places.

* Wilmington — The lowest price was $3.37 at multiple places.

Reach Jacob Clary at 937-402-2570.

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