Gas prices up, but trend should end soon

Gasoline price information

Gasoline prices were still rising last week, but that trend should start to reverse itself, according to the latest gas price analysis.

Average retail gasoline prices in Ohio have risen 11.5 cents per gallon in the past week, averaging $2.70 per gallon on Monday, according to GasBuddy’s daily survey of 5,345 gas outlets in Ohio. This compares with the national average, which has increased 3.5 cents per gallon in the last week to $2.75 a gallon, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Ohio during the past week, prices Monday were 111.4 cents per gallon lower than the same day one year ago and are 18.6 cents per gallon higher than a month ago. The national average has increased 21.0 cents per gallon during the last month and stands 91.4 cents per gallon lower than this day one year ago.

“As the summer driving season has begun, gasoline prices have risen slightly as demand rises and parts of the country have seen supply and refinery disruptions,” said Patrick DeHaan, GasBuddy senior petroleum analyst. “There’s light at the end of the tunnel, however. We’re expecting over the next two weeks trends will shift and relief will start flowing to pumps as issues fade into the background.

“Overall, this summer will be the cheapest at the pump across much of the U.S. since 2009, with prices likely remaining well below year ago levels,” DeHaan added. “I forecast that the national average will not breach $3 a gallon this summer.”