The average price of gasoline across South Central Ohio is a penny lower this week at $3.840 per gallon, according to AAA East Central’s Gas Price Report.

This week’s average prices: South Central Ohio Average: $3.840

City of Washington Court House Average: $3.772

Average price during the week of April 18, 2022 $3.853

Average price during the week of April 26, 2021 $2.842

The average price of unleaded self-serve gasoline in various areas:

$4.099 Athens

$3.786 Chillicothe

$3.776 Columbiana

$3.878 East Liverpool

$3.999 Gallipolis

$3.739 Hillsboro

$3.983 Ironton

$3.886 Jackson

$3.582 Logan

$3.898 Marietta

$3.884 Portsmouth

$3.668 Steubenville

$3.807 Waverly

Trend Analysis:

Despite several weeks of declining prices, the national average for a gallon of regular gas has risen four cents over the past week to $4.12. Concerns that less Russian oil will enter the global market combined with fears of a COVID-induced economic slowdown in China are causing oil prices to hover around $100 a barrel. As long as the price of oil stays elevated, pump prices could continue to trend upward. This week’s national average is still 12 cents less than a month ago but $1.24 more than a year ago.

According to new data from the Energy Information Administration (EIA), total domestic gasoline stocks decreased by nearly 1 million barrels to 232.3 million barrels last week. Gasoline demand increased slightly from 8.73 million barrels per day to 8.86 million barrels per day. Although supply and demand factors would have typically supported elevated pump prices, the fluctuating oil price continues to be the main factor influencing prices at the pump.

At the close of Friday’s formal trading session, West Texas Intermediate decreased by $1.72 to settle at $102.07. Crude prices declined despite EIA reporting that total domestic oil inventories decreased by 8.1 million barrels to 413.7 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 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.