The average price of gasoline across South Central Ohio is eight cents higher this week at $3.162 per gallon, according to AAA East Central’s Gas Price Report.
This week’s average prices: South Central Ohio Average: $3.162
Average price during the week of January 4, 2022 $3.087
Average price during the week of January 11, 2021 $2.276
The average price of unleaded self-serve gasoline in various areas:
$3.192 East Liverpool
$3.111 Washington Court House
Gasoline prices edged upward by two cents last week to hit $3.30 per gallon, driven primarily by the higher price of crude oil, which is closing in on $80 a barrel.
At the close of Friday’s formal trading session, West Texas Intermediate decreased by 56 cents to settle at $78.90. Although prices moved lower on Friday due to contract pricing fluctuations at the beginning of the year and demand concerns over the COVID-19 omicron variant, crude prices increased overall last week amid conflict in Central Asia and after the Energy Information Administration (EIA) reported that total domestic crude stocks decreased by 2.1 million barrels to 417.9 million barrels.
According to new data from the EIA, total domestic gasoline stocks rose by 10.1 million barrels to 232.8 million barrels last week. On the other hand, gasoline demand decreased from 9.72 million barrels per day to 8.17 million barrels per day. Typically, pump prices decline due to lower gas demand and a rise in total stocks, but continued growth in the price of crude oil has helped to elevate pump prices.
Today’s national average of $3.30 is three cents less than a month ago and $1.01 more than a year ago.
Motorists can find current gas prices nationwide, statewide, and countywide at GasPrices.AAA.com.
AAA East Central is a not-for-profit association with 72 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.