AAA: Gas prices continue to fall in Ohio

This week’s average price for a gallon of unleaded gasoline across South Central Ohio is $3.421. Last week’s average price was more than 12 cents higher with an average price of $3.543 per gallon. The average price for a gallon of unleaded gasoline during the week of May 8 last year was $3.385.

Pike County has the second highest gas prices in the state with a price of $3.576 per gallon. That puts Pike County 16.5 cents higher than the average price of gas in the state and just over five a half cents under the national average.

The county with a higher price in Ohio is Athens County with a price of $3.599 for a gallon of gasoline.

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

$3.617 Athens$3.261 Chillicothe$3.439 Columbiana$3.534 East Liverpool$3.520 Gallipolis$3.334 Hillsboro$3.380 Ironton$3.319 Jackson$3.251 Logan$3.514 Marietta$3.346 Portsmouth$3.408 Steubenville$3.316 Washington Court House$3.654 Waverly

Trend Analysis:The national average for a gallon of gas has remained steady over the past week at $3.65. Lackluster domestic demand and lower oil prices have helped stabilize prices at the pump. Today’s national average is six cents more than a month ago and 11 cents more than a year ago.

According to new data from the Energy Information Administration (EIA), gas demand rose slightly from 8.42 million barrels per day to 8.62 last week. Meanwhile, total domestic gasoline stocks increased by .4 million barrels to 227.1 million barrels. Tepid demand, increasing supply, and falling oil prices could lower pump prices.

At the close of Wednesday’s formal trading session, West Texas Intermediate decreased by $2.93 to settle at $79 per barrel. Prices dipped as the EIA reported crude oil inventories increased by 7.3 million barrels from the previous week. At 460.9 million barrels, U.S. crude oil inventories are about 3% 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.