The average price of gasoline across South Central Ohio is six cents higher this week at $2.620 per gallon, according to AAA East Central’s Gas Price Report.
On the week, the majority of Great Lakes and Central states have more expensive averages, with Michigan (+12 cents), Ohio (+9 cents), Indiana (+8 cents) and Illinois (+7 cents) seeing the largest jumps, which land these states on the 10 top list of biggest weekly changes in the country. Prices range from $2.21 in Missouri to $2.65 in Illinois (OH, $2.64).
Despite a nearly 400,000-barrel build in gasoline stocks, gasoline prices in the region are up largely due to year-end holiday travel. Data from the Energy Information Admiration (EIA) list total stocks at 52 million barrels, which is about 1 million more than this time last year. Stocks are expected to continue to build and potentially drive gas prices cheaper in the new year.
This week’s average prices: South Central Ohio Average: $2.620
Average price during the week of December 23, 2019 $2.566
Average price during the week of December 31, 2018 $1.954
The average price of unleaded self-serve gasoline in various areas:
$2.673 East Liverpool
$2.728 Washington Court House
On the National Front
A year-end spike in road trip travel due to the holidays helped to push the national average more expensive on the week – up four cents to $2.58. Compared to last month, the national average is the same price, but 31 cents more expensive than the end of 2018. The majority of states saw gas prices increase in the last week – some by as much as a nickel to a dime, but any spikes in gas prices that motorists are seeing will likely be short-lived.
In 2019, the national gas price average was $2.61, which is ten cents cheaper than the 2018 average of $2.71.
At the close of Friday’s formal trading session on the NYMEX, West Texas Intermediate decreased by four cents to settle at $61.72. Crude prices rose last week after the EIA’s petroleum status report revealed that total domestic crude stocks decreased by 5.5 million barrels to 441.4 million barrels last week. Total domestic stocks are now at the level they held last year at this time. If the EIA’s report this week shows another reduction, crude prices could increase again, which could increase prices at the pump.
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.