AAA: Gas prices drop in Ohio; National average increases

Staff report

The average price of gasoline across South Central Ohio is five cents lower this week at $3.039 per gallon, according to AAA East Central’s Gas Price Report.

This week’s average prices: South Central Ohio Average: $3.039

Average price during the week of July 26, 2021 $3.088

Average price during the week of August 3, 2020 $2.088

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

$3.160 Athens

$2.994 Chillicothe

$2.919 Columbiana

$3.065 East Liverpool

$3.098 Gallipolis

$2.955 Hillsboro

$3.048 Ironton

$2.977 Jackson

$3.106 Logan

$3.071 Marietta

$3.052 Portsmouth

$2.974 Steubenville

$2.997 Washington Court House

$3.131 Waverly

Americans are paying a pretty penny to hit the road this summer. The monthly national gas price average has increased from $3.00 in May to $3.07 in June to $3.15 in July. The beginning of August will likely be as expensive as July, especially as crude oil prices remain over $70 per barrel. An increase in global crude production is expected this month. However, even with the additional supply, global demand could outpace global supply and keep prices high.

On the week, the national average increased by two cents to $3.17 with a majority of states seeing jumps between two to ten cents. Today’s average is a nickel more than a month ago and 99 cents more than a year ago.

As many travelers take final summer vacations, AAA reminds drivers not to rely heavily on in-dash fuel economy displays. New AAA research found that a vehicle’s “miles to empty” estimates vary significantly and drivers could be taking an unnecessary risk if they over rely on these displays. With more expensive gas prices, motorists may be trying to stretch their tank to empty, but AAA recommends drivers watch their gas gauge and fill up when it reaches a quarter of a tank.

At the close of Friday’s formal trading session, West Texas Intermediate increased by 33 cents to settle at $73.95. A weaker dollar helped to push prices higher last week, while market concerns surrounding demand recovery continued to grow. Crude prices were also bolstered after the Energy Information Administration’s (EIA) latest report showed that total domestic crude stocks declined by 4.1 million barrels to 435.6 million barrels. For this week, crude prices could climb higher if EIA’s next weekly report shows another decline in total domestic crude supply.

Staff report