City gasoline prices mostly down for week

VW independent/submitted information

Local Van Wert gasoline prices, for the most part, have decreased over the past week, according to information provided on the GasBuddy website, although the lowest price locally is still a couple of pennies higher than the state average.

Van Wert gasoline prices are again led by the Murphy USA station in the Towne Center shopping center, which is currently selling gas at $2.64 a gallon, down 7 cents from $2.71 last week. Four stations, the Pak-A-Sak Marathon stations on North Washington and South Shannon, the One Stop Shop station on North Washington, and the Lassus Handy Dandy station on North Washington, are all at $2.69 per gallon, while the Shell station on South Washington Street is selling gasoline for $2.69 a gallon. The Marathon station adjacent to the Brookside Convenience Store on West Main Street has gasoline for $2.72 a gallon, while the Short Stop Sunoco station is selling gasoline for $2.79 a gallon.

Statewide, gasoline prices have risen 4.4 cents per gallon in the past week, averaging $2.62 per gallon on Sunday, according to GasBuddy’s daily survey of 5,345 stations in Ohio. This compares with the national average, which has fallen 2.9 cents per gallon versus last week to $2.81 per gallon, according to GasBuddy.

Including the change locally during the past week, prices Sunday were 18.4 cents per gallon higher than a year ago and are 13.8 cents per gallon lower than a month ago. The national average has dropped 6.6 cents per gallon during the last month and stands 35.6 cents per gallon higher than a year ago.

“From coast to coast, gas prices in nearly every state saw downward movement in the last week as sliding oil prices continued to keep the door open to falling gas prices,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “In fact, in the next 24 hours we’ll likely see the national average fall to its lowest point in over six months.

“Saudi Arabia has indicated it is prepared to raise oil production, addressing what had been a major concern ahead of Iran sanctions taking effect,” DeHaan added. “Oil prices have fallen over 10 percent in recent weeks, providing the bulk of the gas price relief we’re seeing, and will continue to see for the next week or two at least.

“While there is still some anxiety globally over a lack of spare oil capacity, the market has been laser focused on discussion from oil producers, including Russia, that they will act to raise production,” DeHaan noted. “OPEC meets in early December, and any official increase in oil production could go a long way to temper concerns of shortcomings in the market,” he noted.