The average price of gasoline across South Central Ohio is five cents lower this week at $3.622 per gallon, according to AAA East Central’s Gas Price Report.
This week’s average prices: South Central Ohio average: $3.622; Washington Court House average: $3.553
Average price during the week of April 10, 2023 $3.670
Average price during the week of April 18, 2022 $3.853
The average price of unleaded self-serve gasoline in various areas:
$3.753 Athens
$3.625 Chillicothe
$3.669 Columbiana
$3.622 East Liverpool
$3.614 Gallipolis
$3.562 Hillsboro
$3.657 Ironton
$3.611 Jackson
$3.477 Logan
$3.658 Marietta
$3.600 Portsmouth
$3.608 Steubenville
$3.704 Waverly
Trend Analysis:
The national average for a gallon of regular gasoline rose 11 cents over the last week to hit $3.67. The main culprit is the cost of oil, gasoline’s main ingredient. Prices have hovered in the low $80’s per barrel for about two weeks after spending much of March around $70 per barrel. The national average has risen daily since March 29. Today’s average of 3.67 is 22 cents more than a month ago but 41 cents less than a year ago.
According to new data from the Energy Information Administration (EIA), gas demand decreased from 9.3 to 8.94 million barrels per day last week. Meanwhile, total domestic gasoline stocks dropped slightly by 400,000 barrels to 222.2 million barrels. Lower demand would typically push pump prices down; instead, elevated oil prices have pushed them higher.
At the close of Wednesday’s formal trading session, West Texas Intermediate increased by $1.73 to settle at $83.26. Oil prices increased after the U.S. Labor Department said the U.S. Consumer Price Index rose 0.1% in March, a lower rise than the market expected. Additionally, the EIA reported that total domestic commercial crude inventories increased by 500,000 barrels to 470.5 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.
