The Van Wert County Courthouse

Sunday, May. 27, 2018

Local gas prices increase substantially

VW independent/submitted information

Gasoline prices in Van Wert on Sunday ranged from four cents under the state average to prices right at the state average of $2.79 per gallon.

The lowest price is at Murphy USA, at $2.75 a gallon, while One Stop Shop in the 200 block of North Washington Street is selling gasoline at $2.76 per gallon. Four stations in Van Wert have gasoline at $2.77 per gallon. They include the Pak-A-Sak Marathon stations on North Washington Street and South Shannon Street, the Shell station on South Washington Street, and the Lassus Handy Dandy station on North Washington Street.

Stations selling gasoline at the state average of $2.79 per gallon include the Brookside Marathon Station on West Main Street and the Short Stop Sunoco station on East Main Street.

Average retail gasoline prices in Ohio have risen 14.3 cents per gallon in the past week, averaging $2.79 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 increased 5.7 cents per gallon in the last week to $2.86 per gallon, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Ohio during the past week, prices Sunday were 53.4 cents per gallon higher than the same day one year ago and are 19.1 cents per gallon higher than a month ago. The national average has increased 15.4 cents per gallon during the last month and stands 53.8 cents per gallon higher than this day one year ago.

“Gas prices saw among the larger weekly increases since Hurricane Harvey in the last week as oil prices continued to surge, leading to sharply higher prices at the pump, putting the U.S. in peril of striking the $3/gallon level for the first time since 2014,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “Some of the factors at play in the rising prices: President Trump’s U.S. withdraw from the nuclear deal with Iran and oil supplies that have continued to drop as U.S. exports surpass Venezuela- a surprising feat given Venezuela has the largest proven oil reserves in the world.

“In addition, as money continues to flow into commodities as bets for higher oil prices rise, there’s a strong chance of seeing crude oil prices continue to rally in the weeks ahead, with odds of hitting $3/gallon nationally now better than 65 percent just in time for the summer driving season,” DeHaan added.

POSTED: 05/14/18 at 8:01 am. FILED UNDER: News