Shelby Daily Globe

AAA: gas prices climb in Ohio; national average increases

The average price for gasoline across Northeast Ohio is 21 cents higher this week at $3.601 per gallon, according to AAA East Central’s Gas Price Report.

This week’s average prices: Northeast Ohio Ave rage $3.601

Average price during the week of September 19, 2022 $3.393

Average price during the week of September 27, 2021 $3.020

Average prices of the unleaded self-service gasoline in various areas:

$3.628 $3.631 $3.622 $3.681 $3.587 $3.636 $3.606 $3.654 $3.496 $3.587 $3.641 $3.610 $3.575 $3.497 $3.595 $3.539 $3.585 $3.629 $3.646 $3.624 $3.543

Alliance

Ashland Ashtabula

Aurora Chesterland Cleveland

Elyria Independence Lorain

Lyndhurst Massillon

Mentor

New Philadelphia Niles

Norwalk

Oberlin

Parma

Ravenna

Solon

Willard Youngstown

Trend Analysis:

Gas prices rose a nickel over the past week, as the national average pump price hit $3.72. The main reason is higher regional prices on the West Coast and the Midwest due to refinery issues ranging from planned maintenance to a fire. Hurricane Ian could also cause problems, depending on the storm’s track, by disrupting oil production in the Gulf of Mexico and impacting large coastal refineries. But low domestic demand and much lower oil prices have helped to blunt some of the impact. On Friday, the price of oil slipped below $80 a barrel for the first time since January, primarily due to fears of a recession-led global economic slowdown.

Meanwhile, according to data from the Energy Information Administration (EIA), gas demand decreased from 8.49 million barrels per day to 8.32 million barrels per day last week. Moreover, according to the EIA, total domestic gasoline stocks increased by 1.6 million barrels to 214.6 million barrels. Although gasoline demand has decreased, tight supply and fluctuating oil prices have increased the national average price.

Today's national average of $3.72 is 14 cents less than a month ago but 54 cents more than a year ago.

Motorists can find current gas prices nationwide, statewide, and countywide at Gasprices. Aaa.com.

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2022-09-29T07:00:00.0000000Z

2022-09-29T07:00:00.0000000Z

https://sdg.pressreader.com/article/281573769573458

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