The average price of gasoline across South Central Ohio is 16 cents higher this week at $3.628 per gallon, according to AAA East Central’s Gas Price Report.

This week’s average prices: South Central Ohio Average: $3.628

Average price during the week of August 7, 2023 $3.460

Average price during the week of August 15, 2022 $3.676

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

$3.697 Athens

$3.658 Chillicothe

$3.578 Columbiana

$3.653 East Liverpool

$3.547 Gallipolis

$3.656 Hillsboro

$3.597 Ironton

$3.687 Jackson

$3.654 Logan

$3.591 Marietta

$3.495 Portsmouth

$3.674 Steubenville

$3.648 Washington Court House

$3.654 Waverly

Trend Analysis:

The national average for a gallon of gas is up three cents over the past week and is now at $3.85. This latest price increase comes after an uptick in gas demand and crude oil prices staying above $80 per barrel. Today’s national average is 29 cents more than a month ago but 10 cents less than a year ago.

According to new data from the Energy Information Administration (EIA), gas demand jumped from 8.84 to 9.30 million barrels per day last week. Meanwhile, total domestic gasoline stocks decreased from 219.1 to 216.4 million barrels. Higher demand, amid tighter supply, has helped to keep pump prices elevated.

At the close of Wednesday’s formal trading session, West Texas Intermediate increased by $1.48 to settle at $84.40. The price of oil has not been this high since mid-April 2023. Prices have increased amid market optimism that oil demand will be more robust than expected during this half of 2023 and into 2024. Additionally, the EIA reported that total domestic commercial crude inventories increased from 439.8 to 445.6 million barrels.

Motorists can find current gas prices nationwide, statewide, and countywide at gasprices.aaa.com.

Motorists can find current gas prices nationwide, statewide, and countywide at gasprices.aaa.com.