Gas prices across region drop 11 cents

This week’s average prices for a gallon of unleaded gas in South Central Ohio average is $3.543.

The average price per gallon last week $3.657. The average price a year ago, during the week of May 1was $3.482 per gallon.

Pike County has the second highest average price in the state, according aaagasrices.com, with a average price of $3.631. Only Athens County with an average price $3.671 per gallon.

Pike County’s price is more than 15 cents over the average for the State of Ohio and jut more than two and half cents under the national average.

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

$3.699 Athens

$3.523 Chillicothe

$3.577 Columbiana

$3.611 East Liverpool

$3.563 Gallipolis

$3.484 Hillsboro

$3.530 Ironton

$3.461 Jackson

$3.381 Logan

$3.613 Marietta

$3.526 Portsmouth

$3.530 Steubenville

$3.470 Washington Court House

$3.628 Waverly

Trend Analysis:

As domestic gasoline demand and the cost of oil remained steady over the past week, the national average is now two cents lower at $3.65. Today’s national average is 12 cents higher than a month ago and four cents higher than a year ago.

According to new data from the Energy Information Administration (EIA), gas demand fell from 8.66 to 8.42 million barrels per day last week. Meanwhile, total domestic gasoline stocks decreased by .6 million barrels to 226.7 million barrels.

At the close of Wednesday’s formal trading session, West Texas Intermediate decreased by 55 cents to settle at $82.81. Oil prices dipped despite the EIA reporting crude oil inventories fell by 6.4 million barrels from the previous week. At 454 million barrels, U.S. crude oil inventories are 4% below the five-year average for this time of year.

Motorists can find current gas prices nationwide, statewide, and countywide at gasprices.aaa.com.

AAA East Central is a not-for-profit association with 70 local offices in Kentucky, New York, Ohio, Pennsylvania and West Virginia serving 2.7 million members. News releases are available at news.eastcentral.aaa.com. Follow us on Twitter and Facebook.