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Thursday, Mar. 28, 2024

Ohio gasoline prices increase slightly

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Average retail gasoline prices in Ohio have risen eight-tenths of a cent per gallon in the past week, averaging $2.30 per gallon on Sunday, according to GasBuddy’s daily survey of 5,345 gas outlets in Ohio. This compares with the national average, which has not moved  in the last week at $2.34 per gallon, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Ohio during the past week, prices Sunday were 21.8 cents per gallon higher than the same day one year ago and 11.7 cents per gallon higher than a month ago. The national average has increased 9.8 cents per gallon during the last month and stands 22.4 cents per gallon higher than this day one year ago.

“For the fourth straight week, gasoline prices have risen, pushing the national average this week to its highest level of the summer so far,” said Patrick DeHaan, senior petroleum analyst for GasBuddy. “There are some signs, however, that we may be nearing a short-term peak as the climb in gasoline prices has begun to slow.

“The number of states seeing gas prices decline versus a week ago rose to its highest level in three weeks, a sign that gas prices have in these areas have caught up to the rise in oil prices,” DeHaan added. “While that sign alone doesn’t guarantee lower prices, it suggests that fewer price increases are in store as stations await oil’s next move.

“Last week saw oil prices fluctuate little until Friday, when prices fell and closed the week under $49 per barrel, with many ‘wait and see’ factors weighing on the market, such as the Venezuela situation, hurricane season, and declining U.S. oil inventories.”

POSTED: 08/15/17 at 7:22 am. FILED UNDER: News