Gas prices expected to increase


Cost of crude oil pushing prices higher

By Jacob Clary - jclary@aimmediamidwest.com



This photo shows cost of a gallon of gas Tuesday morning at the United Dairy Farmers store in Hillsboro.

This photo shows cost of a gallon of gas Tuesday morning at the United Dairy Farmers store in Hillsboro.


Jacob Clary | The Times-Gazette

The price of gas will continue to go up, according to an American Automobile Association (AAA) news release on Monday that said the main cause of the price climb is the cost of crude oil. The release said the cost of one barrel was closing daily at above $80, a rise from the low $60s in August.

“Compared to the price of gas a year ago, it now costs consumers about $17 more to fill up their vehicles,” Andrew Gross, a AAA spokesperson, said. “That’s the cost of a large pizza with toppings. And unfortunately, it doesn’t look like drivers will be finding relief at the pump any time soon.”

The article said new information from the Energy Information Administration said that its supply fell by two million barrels (bbl) to 223.1 million. The release also said the demand fell from 9.43 million barrels per day (b/d) to 9.19 million b/d, but is around 610,000 b/d higher than last year.

“Typically, softening demand should result in some easing of pump prices, but the higher cost for crude is blocking this,” the AAA news release said. “With oil prices remaining elevated, pump prices will follow suit because the cost of crude oil accounts for more than half of the price of each gallon of gas.”

AAA said Ohio had the 31st-highest gas price of all the states in the country and Washington, D.C. The site said Ohio’s average price per gallon was $3.241 as of Tuesday. AAA said that is an increase from one week ago when the price per gallon was $3.144. Compared to one month ago, the average price was $3.094.

The lowest gas prices around Highland County, according to GasBuddy on Oct. 19, were:

* Chillicothe — The lowest price was $3.16 at Kroger.

* Greenfield — The lowest price was $3.25 at Clark.

* Hillsboro — The lowest price was $3.17 at Murphy USA.

* Mount Orab — The lowest price was $3.29 at multiple places.

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

Reach Jacob Clary at 937-402-2570.

This photo shows cost of a gallon of gas Tuesday morning at the United Dairy Farmers store in Hillsboro.
https://www.timesgazette.com/wp-content/uploads/sites/33/2021/10/web1_DSC_0884.jpgThis photo shows cost of a gallon of gas Tuesday morning at the United Dairy Farmers store in Hillsboro. Jacob Clary | The Times-Gazette
Cost of crude oil pushing prices higher

By Jacob Clary

jclary@aimmediamidwest.com