AAA: Gas prices climb in Ohio

CLEVELAND — The average price for gasoline across Northeast Ohio is 12 cents higher this week at $3.613 per gallon, according to AAA East Central's Gas Price Report. This week's average prices: Northeast Ohio Average — $3.61.3Average price during the week of Aug. 28, 2023 — $3.49.8Average price during the week of Sept. 6, 2022 — $3.61.6 Average prices of the unleaded self-service gasoline in various areas: $3.62.5 — Alliance$3.61.7 — Ashland$3.65.4 — Ashtabula$3.67.7 — Aurora$3.69.4 — Chesterland$3.57.8 — Cleveland$3.57.0 — Elyria$3.57.6 — Independence$3.49.9 — Lorain$3.63.9 — Lyndhurst$3.58.3 — Massillon$3.62.7 — Mentor$3.64.3 — New Philadelphia$3.45.5 — Niles$3.69.3 — Norwalk$3.62.5 — Oberlin$3.57.2 — Parma$3.65.8 — Ravenna$3.68.4 — Solon$3.65.6 — Willard$3.55.1 — Youngstown Trend Analysis:While damage assessments are still being made in the wake of Hurricane Idalia, pump prices remained in neutral, with the national average for a gallon of gas falling by a penny since last week to $3.81. Oil and gas experts have noted that overall gasoline demand during the summer vacation season failed to match previous years despite retail gasoline prices below last year's. Today's national average is two cents less than a month ago but three cents more than a year ago. According to new data from the Energy Information Administration (EIA), gas demand increased slightly from 8.91 to 9.07 million barrels per day last week. Meanwhile, total domestic gasoline stocks took a slight step back to 217.4 million barrels. Although demand has increased, fluctuating oil prices have limited pump price increases. At the close of Wednesday's formal trading session, West Texas Intermediate increased by 47 cents to settle at $81.63. Oil prices rose amid ongoing concern Hurricane Idalia would interrupt fuel supply in the Southeast. However, some fuel terminals have resumed operations, and more are expected in the coming days as storms subside and damage assessments can be undertaken. Additionally, the EIA reported that total domestic commercial crude inventories decreased significantly from 433.5 to 422.9 million barrels. Motorists can find current gas prices nationwide, statewide, and countywide at gasprices.aaa.com. AAA East Central is a not-for-profit association with 69 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.