Ohio gasoline prices continue to increase

Submitted information

Average retail gasoline prices in Ohio have risen 10.3 cents per gallon in the past week, averaging $2.38 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 2.7 cents per gallon in the last week to $2.28 per gallon, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Ohio during the past week, prices Sunday were 47.7 cents per gallon higher than the same day one year ago and are 35.9 cents per gallon higher than a month ago. The national average has increased 16.5 cents per gallon during the last month and stands 28.4 cents per gallon higher than this day one year ago.

According to GasBuddy historical data, gasoline prices on December 27 in Ohio have ranged widely over the last five years: $1.90 per gallon in 2015, $2.06 per gallon in 2014, $3.33 per gallon in 2013, $3.28 per gallon in 2012 and $3.29 per gallon in 2011.

“While the benchmark West Texas Intermediate (WTI) crude closed last week near $53 per barrel, it’s doubtful that we’ll see any momentum this week, since trading is generally low volume between Christmas and New Year’s Day,” said Gregg Laskoski, senior petroleum analyst for GasBuddy. “Similarly, expect the aggressive escalation that we saw for retail gasoline prices through much of December to stall out in the final week of the year.”

“Overall, the national average price of gas is 28 cents higher than where it was a year ago on this day and prices in most metros and states across the country are higher too — with the remarkable exception being California, whose statewide average today is 13 cents lower than last year and the Los Angeles’ average, believe it or not, is 27 cents less than a year ago,” Laskoski noted.