Ohio gasoline prices rise a bit on Sunday

VW independent/submitted information

Average retail gasoline prices in Ohio have risen 2.2 cents per gallon in the past week, averaging $1.93 per gallon on Sunday, according to GasBuddy’s daily survey of 5,345 gas outlets in Ohio. This compares with the national average that has increased 5.6 cents per gallon in the last week to $2.04 a gallon, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Ohio during the past week, prices Sunday were 48 cents per gallon lower than the same day one year ago and are 15 cents per gallon higher than a month ago. The national average has increased 29.5 cents per gallon during the last month and stands 38.7 cents per gallon lower than this day one year ago.

According to GasBuddy historical data, gasoline prices on March 28 in Ohio have ranged widely over the last five years: $2.41 per gallon in 2015, $3.60 per gallon in 2014, $3.62 per gallon in 2013, $3.87 per gallon in 2012, and $3.53 per gallon in 2011.

“The rise in gasoline prices comes as refinery maintenance begins kicking into high gear,” said Patrick DeHaan, senior petroleum analyst for GasBuddy. “It’s not a fun time to be filling up as gasoline prices see their typical seasonal rise.”

However, this year’s jump thus far has seen average prices remain well below year ago levels across much of the nation, DeHaan added.

“As crude oil prices fell gently last week back under $40 per barrel, motorists shouldn’t necessarily expect the worst increases to be over just yet,” DeHaan noted. “Until the bulk of refinery maintenance season wraps up in late May, we likely won’t see the lower oil prices immediately bring relief to the pump as oil and gasoline inventories continue to move in the opposite direction.”

Last week, the Energy Information Administration pointed to a huge 9.4 million barrel rise in oil inventories, while gasoline inventories fell nearly 5 million barrels, which points to continued tightness in supply and likely a continued rise in gasoline prices for the time being.