AAA: Ohio Gas Prices Dip; Prices Stabilize Nationwide

AAA: Ohio Gas Prices Dip; Prices Stabilize Nationwide
The average price of gasoline across South Central Ohio is two cents cheaper this week at $2.094 per gallon, according to AAA East Central’s Gas Price Report.

This week’s average prices: South Central Ohio Average:                     $2.094
Average price during the week of August 10, 2020                                  $2.117
Average price during the week of August 19, 2019                                  $2.580

The average price of unleaded self-serve gasoline in various areas:  

$2.207       Athens
$2.095       Chillicothe
$1.972       Columbiana
$2.068       East Liverpool
$2.097       Gallipolis
$2.224       Hillsboro
$1.975       Ironton
$2.081       Jackson
$2.164       Logan
$2.096       Marietta
$1.946       Portsmouth 
$2.162       Steubenville

$2.118       Washington Court House
$2.117       Waverly

Trend Analysis:
In the last four weeks, motorists across the country have seen the national average decrease, but only by three cents. Moreover, today’s average ($2.17) is 45 cents lower than a year ago. Despite gasoline demand increasing from Mid-March, the Energy Information Administration (EIA) measures it at a year-over-year decrease. Simultaneously, gasoline stocks are measuring at 247 million barrels – a 12-million-barrel surplus compared to last year.

On the week, most states saw minimal movement at the pump with either a one cent or no change in their averages, which has become common around the country. Barring any major hurricanes or other outlying events, motorists may see this stability continue for the rest of the summer.

At the end of Friday’s formal trading session, West Texas Intermediate decreased by 23 cents to settle at $42.01 per barrel. Crude prices ended the week lower after the International Energy Agency reduced its outlook for 2020 global oil demand to 91.9 million b/d from 92.1 million b/d. Reduced demand for gasoline and other transportation fuels, including jet fuel, have pushed global crude demand down.

Motorists can find current gas prices nationwide, statewide, and countywide at GasPrices.AAA.com.

AAA East Central is a not-for-profit association with 78 local offices in Kentucky, New York, Ohio, Pennsylvania and West Virginia serving 2.7 million members.  News releases are available at news.eastcentral.aaa.com.  Follow us on Twitter and Facebook.

For More Information, Contact:
Lynda Lambert, Safety Advisor & Media Spokesperson
Desk: 502-779-3610 / Cell: 502-565-7410 / Email: Lambert.Lynda@aaaec.com

-AAA-