The average price of gasoline across South Central Ohio remains around $2.566 per gallon this week, according to AAA East Central’s Gas Price Report.
Four Great Lakes and Central States land on the top 10 list for largest weekly changes, but for increases and decreases alike: Kentucky (+9 cents), Illinois (-5 cents), Nebraska (+4 cents) and Indiana (+4 cents). Filling up continues to be less expensive for the majority of motorists in the region thanks to mostly increasing stock levels since the beginning of November.
While regional prices are mostly cheaper on the week, they range from 18 cents to 47 cents more expensive compared to this time last year. This is likely due to higher winter crude oil prices.
The Energy Information Administration’s (EIA) latest data shows that stocks built by 1.4 million barrels to total 51.6 million barrels. Currently, regional stocks sit at their highest level since early September, which is helping the majority of the region see cheaper weekly gas prices.
This week’s average prices: South Central Ohio Average: $2.566
Average price during the week of December 16, 2019 $2.558
Average price during the week of December 27, 2018 $2.061
The average price of unleaded self-serve gasoline in various areas:
$2. East Liverpool
$2. Washington Court House
On the National Front
More than 100 million Americans are taking to the roadways to travel for the holidays, but that hasn’t had a large impact on gas prices. At the start of the work week, only about a dozen states are seeing more expensive gas prices with increases of less than a dime.
Today’s national average is $2.54, which is a penny less than last week and a nickel cheaper than last month. While the national gas price average continues to slowly edge cheaper, it is noticeably more expensive as compared to last year’s holidays – by nearly 20 cents. However, this isn’t deterring people from taking their holiday road trips and some states are seeing lower averages than last year. AAA will continue to monitor prices at the pump this week as a record-setting amount of Americans prepare to travel over the holiday season.
At the close of Friday’s formal trading session on the NYMEX, West Texas Intermediate decreased by 74 cents to settle at $60.44. Crude prices ended the week up slightly over the previous week amid increased optimism that trade tensions are continuing to decline between the U.S and China — the world’s two largest crude oil consumers. This hope has reduced market concerns that global crude demand will decrease next year, helping to raise price expectations for early 2020.
Crude prices also increased this week after EIA’s recent petroleum status report revealed that total domestic crude stocks decreased by 1.1 million barrels to 446.8 million barrels last week. Total domestic stocks are 5.4 million barrels higher than where they were at this time in 2018.
Motorists can find current gas prices nationwide, statewide, and countywide at GasPrices.AAA.com.
AAA East Central is a not-for-profit association with 78 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.