The average price of gasoline across South Central Ohio is 22 cents higher this week at $3.603 per gallon, according to AAA East Central’s Gas Price Report.
This week’s average prices: South Central Ohio average: $3.603; Washington Court House average: $3.643
Average price during the week of May 8, 2023 $3.385
Average price during the week of May 16, 2022 $4.283
The average price of unleaded self-serve gasoline in various areas:
$3.586 East Liverpool
The national average for a gallon of gas remained steady over this past week at $3.53. Even though demand for gasoline is higher, the lower cost of crude oil is limiting gas price increases. Today’s national average is 13 cents less than a month ago and 97 cents less than a year ago.
According to new data from the Energy Information Administration (EIA), gas demand grew substantially from 8.62 to 9.30 million barrels per day last week. Meanwhile, total domestic gasoline stocks decreased by 3.2 million barrels to 219.7 million barrels. Higher demand and a reduction in stocks have slowed pump price decreases.
At the close of Wednesday’s formal trading session, West Texas Intermediate decreased by $1.15 to settle at $72.56. Oil prices declined amid ongoing market uncertainty regarding stalled U.S. debt ceiling negotiations. Additionally, the EIA reported that total domestic commercial crude inventories increased by 3 million barrels to 462.6 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 69 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.