Gasoline prices increase a dime in Ohio

Gasoline price information

Average retail gasoline prices in Ohio have risen 9.9 cents per gallon in the past week, averaging $1.87 per gallon on Sunday, according to GasBuddy’s daily survey of 5,345 gas outlets in Ohio. This compares with the national average, which has increased 6.8 cents per gallon in the last week to $1.81 per gallon, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Ohio during the past week, prices Sunday were 49.2 cents per gallon lower than the same day one year ago and are 36.8 cents per gallon higher than a month ago. The national average has increased 7.6 cents per gallon during the last month and stands 64.4 cents per gallon lower than this day one year ago.

According to GasBuddy historical data, gasoline prices on March 7 in Ohio have ranged widely over the last five years: $2.36 per gallon in 2015, $3.62 per gallon in 2014, $3.64 per gallon in 2013, $3.70 per gallon in 2012 and $3.46 per gallon in 2011.

“Taking a cue from the prior week’s price rebound, retail gasoline prices continued its upward push by increasing nearly 9 cents per gallon on average nationwide,” said Will Speer, GasBuddy senior petroleum analyst. “While most of the gasoline market was pricing in the premium associated with the transition to summer-blend gasoline, last week’s strength in crude futures prices provided no relief for the rising gas prices.

“Although crude oil production fell to the lowest since November 2014, crude and petroleum stocks remain the highest ever recorded in U.S. history,” Speer added. “This oversupply will provide a ceiling for gas prices over the next couple of months as spring refinery maintenance and the summer-blend gasoline transition put upward pressure on prices.”