The average price of gasoline across South Central Ohio is four cents lower this week at $3.148 per gallon, according to AAA East Central’s Gas Price Report.

This week’s average prices: South Central Ohio average: $3.148; Washington Court House average: $3.063

Average price during the week of February 21, 2023 $3.204

Average price during the week of February 28, 2022 $3.360

The average price of unleaded self-serve gasoline in various areas:

$3.298 Athens

$2.995 Chillicothe

$3.011 Columbiana

$3.190 East Liverpool

$3.242 Gallipolis

$3.117 Hillsboro

$3.247 Ironton

$3.209 Jackson

$3.000 Logan

$3.299 Marietta

$2.995 Portsmouth

$3.125 Steubenville

$3.285 Waverly

Trend Analysis:

The national average for a gallon of gas fell five cents over the last week to $3.36. The main reason is the price of oil, which fell into the mid $70s per barrel, nearly $5 cheaper than earlier this month. Today’s national average of $3.36 is 14 cents less than a month ago and 24 cents less than a year ago.

According to new data from the Energy Information Administration (EIA), gas demand increased slightly from 8.27 million barrels per day to 8.91 million barrels per day last week. Meanwhile, total domestic gasoline stocks decreased by 1.8 million barrels to 240.1 million barrels last week. However, decreasing oil prices have contributed to pushing pump prices lower.

Crude prices have declined over the last few weeks due to the strengthening of the dollar and market concerns about increasing domestic oil inventories. EIA reported that total domestic commercial crude inventories increased substantially by 7.6 million barrels to 479 million barrels last week.

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.