AAA: Double-digit increases at the pump in Ohio this week

Staff report

The average price of gasoline across South Central Ohio is three cents lower this week at $2.842 per gallon, according to AAA East Central’s Gas Price Report.

This week’s average prices: South Central Ohio Average: $2.842

Average price during the week of April 19, 2021 $2.673

Average price during the week of April 27, 2020 $1.495

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

$2.826 Athens

$2.871 Chillicothe

$2.852 Columbiana

$2.869 East Liverpool

$2.792 Gallipolis

$2.872 Hillsboro

$2.696 Ironton

$2.852 Jackson

$2.887 Logan

$2.855 Marietta

$2.824 Portsmouth

$2.859 Steubenville

$2.844 Washington Court House

$2.882 Waverly

At 9.1 million barrels-per-day, U.S. gasoline demand recorded its second highest measurement since mid-March 2020, indicating that motorists are filling up more often. This latest demand reading is the highest spring number released by the Energy Information Administration (EIA) in two years. In fact, it is only about 3% below the same week in 2019.

Both demand and supply have steadily increased in the past five weeks, but weekly gasoline supply builds are trending less substantial. On the week, supply only saw a 100,000 barrel build to 234.9 million barrels, most likely due to high consumer demand.

The jump in demand combined with the small increase in supply pushed the national gas price average two cents more expensive on the week to $2.88. This is the largest one-week national increase in the last five weeks.

Cheaper crude oil prices, which are mostly pricing at less than $63 per barrel, and stable and strong refinery utilization (85%) are helping to keep pump price increases at moderate levels. On the week, 35 state averages increased with the majority seeing only one to three cent jumps.

Staff report