The average price of gasoline across South Central Ohio is 16 cents higher this week at $3.678 per gallon, according to AAA East Central’s Gas Price Report.
This week’s average prices: South Central Ohio Average: $3.678; Washington Court House: $3.693
Average price during the week of September 26, 2022 $3.517
Average price during the week of October 4, 2021 $3.116
The average price of unleaded self-serve gasoline in various areas:
$3.666 East Liverpool
The national average pump price for a gallon of gas increased seven cents over the past week to hit $3.79. Tight supply and increased demand are the main culprits. According to data from the Energy Information Administration (EIA), gas demand increased nationally from 8.32 million barrels per day to 8.83 million barrels per day last week. Total domestic gasoline stocks decreased by 2.4 million barrels to 212.2 million barrels.
The regional differences in gas prices are stark now with prices on the West Coast hitting $6 a gallon and higher, while Texas and Gulf Coast states have prices dipping below $3 in some areas. Meanwhile, gas prices in the upper Midwest have risen since a deadly refinery fire on September 20 in Toledo, Ohio, which closed the plant. According to the latest reports, the 160,000 barrel-per-day BP-Husky Toledo refinery could be down for months.
At the close of Friday’s formal trading session, West Texas Intermediate decreased by $1.74 to settle at $79.49. Crude prices decreased at the end of last week due to lingering market concerns that demand will decline if global economic growth stalls or decreases due to a recession. Additionally, according to the EIA’s latest weekly report, total domestic commercial crude inventories decreased slightly by 200,000 barrels to 430.6 million barrels.
Motorists can find current gas prices nationwide, statewide, and countywide at GasPrices.AAA.com.
AAA East Central is a not-for-profit association with 71 local offices in Kentucky, New York, Ohio, Pennsylvania and West Virginia serving 2.7 million members. News releases are available at news.eastcentral.aaa.com. Follow us on Twitter and Facebook.