The average price of gasoline across South Central Ohio is four cents lower this week at $3.618 per gallon, according to AAA East Central’s Gas Price Report.
This week’s average prices: South Central Ohio Average: $3.618; Washington Court House Average: $3.641
Average price during the week of Oct. 24, 2022 $3.653
Average price during the week of Nov. 1, 2021 $3.183
The average price of unleaded self-serve gasoline in various areas:
$3.693 East Liverpool
The national average pump price continued its recent trend by dipping three cents over the past week to hit $3.76. Tepid domestic gas demand and shifting global oil prices are the main reasons. Today’s national average is three cents lower than a month ago and 36 cents more than a year ago.
According to data from the Energy Information Administration, gas demand rose slightly from 8.68 million barrels per day to 8.93 million barrels per day last week, and total domestic gasoline stocks decreased from 209.4 million barrels to 207.9 million barrels. Although gasoline demand is up slightly, it remains nearly 400,000 barrels lower than this time last year. Fluctuating oil prices and low demand contributed to the national average prices moving downward.
At the close of Friday’s formal trading session, West Texas Intermediate decreased by $1.18 to settle at $87.90. A lower dollar contributed to price increases earlier last week. However, market concerns about global crude demand, after China announced more COVID lockdowns, sent prices lower at the end of the week.
Motorists can find current gas prices nationwide, statewide, and countywide at GasPrices.AAA.com.
AAA East Central is a not-for-profit association with 71 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.