The average price of gasoline across South Central Ohio is nine cents lower this week at $3.223 per gallon, according to AAA East Central’s Gas Price Report.
This week’s average prices: South Central Ohio average: $3.223; Washington Court House average: $3.269
Average price during the week of January 9, 2023 $3.310
Average price during the week of January 18, 2022 $3.091
The average price of unleaded self-serve gasoline in various areas:
$3.470 East Liverpool
The national average for a gallon of gas rose five cents over the past week to $3.32. Today’s average is 17 cents more than a month ago and a penny more than a year ago. Shorter days and winter weather are combining to lower gasoline demand, but the price of oil rose as worries of a global economic recession eased. The main factor in this week’s increase is the higher cost of oil which accounts for more than half of the cost of a gallon of gas.
According to data from the Energy Information Administration, gas demand barely budged last week, rising slightly from 7.51 million barrels per day to 7.56 barrels per day. Meanwhile, total domestic gasoline stocks rose from 222.7 million barrels to 226.8 million barrels. Flat gasoline demand and increased supply are contributing to limited pump price increases.
At the close of Friday’s formal trading session, West Texas Intermediate increased by $1.47 to settle at $79.86. A lower dollar helped to push crude prices higher at the end of last week. Additionally, after China increased quotas for oil purchases this year, the market rallied as a sign that crude oil demand may be more robust than anticipated.
Motorists can find current gas prices nationwide, statewide, and countywide at gasprices.aaa.com.
AAA East Central is a not-for-profit association with 70 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.