The average price of gasoline across South Central Ohio remained the same this week at $2.616 per gallon, according to AAA East Central’s Gas Price Report.
The Great Lakes and Central states are seeing wide fluctuations in weekly pump price changes. Kentucky (+10 cents) saw the largest increase in the region and country. However, the majority of states in the region are only paying one to two cents more or less to fill-up, with a few states seeing stability on the week.
For the last four weeks, both gasoline stocks and regional refinery utilization have steadily decreased, contributing to the fluctuation in pump prices.
Maintenance has been reported at more than a dozen regional refineries since early September. With ongoing maintenance, motorists can expect volatility to continue through the end of the month.
This week’s average prices: South Central Ohio Average: $2.616
Average price during the week of Oct. 14, 2019 $2.615
Average price during the week of Oct. 22, 2018 $2.625
The average price of unleaded self-serve gasoline in various areas:
$2.527 East Liverpool
$2.726 Washington Court House
On the National Front
U.S. refinery utilization dropped to its lowest rate – 83% – since Sept. 2017, tightening gasoline supplies and causing nearly half of all state gas price averages to increase on the week. AAA reports these weekly trends in pump price fluctuation:
– Nearly half (22) of all states saw gas prices increase with nine state averages jumping a nickel or more
– 19 states saw gas prices decrease with the majority seeing one to two cent declines
– 10 state averages held steady
Today’s national average of $2.64 is one penny more than last week, two cents more than last month and 21-cents cheaper than last year.
At the close of Friday’s formal trading session on the NYMEX, West Texas Intermediate decreased 15 cents to settle at $53.78. Crude prices mostly fell last week after EIA’s report revealed that total domestic crude inventories grew significantly. Increased domestic production has helped to push crude stocks up. When compared to last year’s rate at this time, crude production is up by 1.7 million b/d this year. Additionally, trade tensions between China and the U.S. continue to worry the market, putting downward pressure on prices. If trade tensions continue, prices could take another step back this 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 79 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.