AAA: Gas prices spike 15 cents in Ohio
The average price of gasoline across south central Ohio is 15 cents higher this week at $3.429 per gallon, according to AAA East Central’s gas price report.
This week’s average prices:
• South central Ohio average: $3.429;
• Average price during the week of March 27, 2023 $3.271;
• Average price during the week of April 4, 2022 $3.967.
The average price of unleaded self-serve gasoline in various areas:
$3.480 Athens
$3.414 Chillicothe
$3.489 Columbiana
$3.427 East Liverpool
$3.408 Gallipolis
$3.416 Hillsboro
$3.499 Ironton
$3.468 Jackson
$3.443 Logan
$3.465 Marietta
$3.230 Portsmouth
$3.438 Steubenville
$3.429 Washington Court House
$3.394 Waverly.
The national average for a gallon of regular gasoline rose seven cents over the past week to hit $3.50. Robust demand for gasoline and rising oil prices are the driving factors for the recent uptick in pump prices. Monday’s national average was 11 cents more than a month ago but 69 cents less than a year ago.
According to new data from the Energy Information Administration (EIA), gas demand increased from 8.96 million to 9.15 million barrels per day last week. Meanwhile, total domestic gasoline stocks decreased substantially by 2.9 million barrels to 226.7 million barrels. Increased demand amid tighter supply has contributed to pushing pump prices higher.
On Sunday, the Organization of the Petroleum Exporting Countries and other major oil producers, including Russia, known collectively as OPEC+, announced a voluntary agreement to slash their output by just over 1 million barrels per day through the end of 2023.
The cut is planned to start in a month. The move caused oil prices to spike, popping over the $80 per barrel mark for the first time in several months.
Motorists can find current gas prices nationwide, statewide and countywide at gasprices.aaa.com.