The average price of gasoline across South Central Ohio is five cents cheaper this week at $2.139 per gallon, according to AAA East Central’s Gas Price Report.
Gas prices are fluctuating across the region, with some Great Lakes and Central States seeing increases and decreases of as much as a nickel. These six states rank among the top 10 largest weekly changes in the country this week: Nebraska (+6 cents), Indiana (-5 cents), South Dakota (+3 cents), Ohio (-3 cents), Kentucky (-3 cents) and Michigan (-3 cents).
For a second week, gasoline stocks decreased in the region, but not as dramatically as the previous week. The latest Energy Information Administration (EIA) report shows stocks dipped by 120,000 barrels to drop levels to 52.4 million barrels.
This week’s average prices: South Central Ohio Average: $2.139
Average price during the week of June 29, 2020 $2.183
Average price during the week of July 8, 2019 $2.743
The average price of unleaded self-serve gasoline in various areas:
$2.241 East Liverpool
$2.136 Washington Court House
On the National Front
The national gas price average increased just one cent to $2.18 on the week, despite a dip in U.S. demand for gasoline and gasoline stocks increasing by 1 million barrels. The slight drop in demand – 47,000 barrels-per-day – amid the increase in inventory comes as many states report increases in COVID-19 cases, potentially causing Americans to reconsider outings.
For motorists who hit the road for the Independence Day holiday, gas prices were nearly 60 cents cheaper than last year and the most inexpensive prices for the holiday since 2004.
At the end of Friday’s formal trading session, West Texas Intermediate increased by 83 cents to settle at $40.65 per barrel. Domestic crude prices increased after the EIA’s weekly report revealed that total domestic crude inventories fell by 7.2 million barrels to 533.5 million barrels.
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.