The average price of gasoline across South Central Ohio is four cents lower this week at $3.407 per gallon, according to AAA East Central’s Gas Price Report.
This week’s average prices: South Central Ohio average: $3.407; Washington Court House average: $3.399
Average price during the week of January 23, 2023 $3.448
Average price during the week of January 31, 2022 $3.143
The average price of unleaded self-serve gasoline in various areas:
$3.481 Athens
$3.360 Chillicothe
$3.522 Columbiana
$3.562 East Liverpool
$3.304 Gallipolis
$3.305 Hillsboro
$3.364 Ironton
$3.405 Jackson
$3.343 Logan
$3.397 Marietta
$3.266 Portsmouth
$3.464 Steubenville
$3.523 Waverly
Trend Analysis:
The recent run of daily one- to four-cent price increases slowed heading into this past weekend, with prices now dipping slightly to start the week. However, increased demand and higher global oil prices pushed the national average for a gallon of gas up eight cents since last week to $3.50. Today’s national average is 33 cents more than a month ago and 14 cents more than a year ago.
According to data from the Energy Information Administration, gas demand rose slightly from 8.05 to 8.14 million barrels per day last week. Meanwhile, total domestic gasoline stocks increased by 1.7 million barrels to 232 million barrels. Rising gas demand and elevated oil prices have contributed to higher pump prices.
At the close of Friday’s formal trading session, West Texas Intermediate decreased by $1.33 to settle at $79.68. Although a higher dollar contributed to pushing prices lower at the end of the week, oil prices rose earlier last week amid ongoing market optimism that global oil demand will be more robust than anticipated in 2023. This is partly due to China re-opening its economy after imposing strict COVID-19 lockdowns that curtailed demand.
Motorists can find current gas prices nationwide, statewide, and countywide at gasprices.aaa.com.
AAA East Central is a not-for-profit association with 70 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.
