AAA: Gas Prices Dip in Ohio This Week

The average price for gasoline across Northeast Ohio is three cents lower this week at $3.420 per gallon, according to AAA East Central’s Gas Price Report.

This week’s average prices: Northeast Ohio Average $3.420

Average price during the week of February 6, 2023 $3.459

Average price during the week of February 14, 2022 $3.241

Average prices of the unleaded self-service gasoline in various areas: $3.576 Alliance

$3.225 Ashland

$3.581 Ashtabula

$3.635 Aurora

$3.395 Chesterland $3.443 Cleveland

$3.401 Elyria

$3.450 Independence $3.277 Lorain

$3.549 Lyndhurst $3.242 Massillon

$3.444 Mentor

$3.492

Philadelphia

$3.429 Niles

New $3.344 Norwalk

$3.330 Oberlin

$3.439 Parma

$3.486 Ravenna

$3.433 Solon

$3.256 Willard

$3.389 Youngstown Trend Analysis:

The national average for a gallon of gas dropped this week by six cents to $3.41. Fewer people fueling up, and lower costs for oil, are behind the price dip. Today’s average is 13 cents more than a month ago and seven cents less than a year ago.

According to new data from the Energy Information Administration (EIA), gas demand dipped slightly from 8.49 million to 8.43 million b/d last week. The current gas demand rate is approximately 700,000 b/d lower than the rate during the first week of February 2022, helping to explain why gas prices are declining. Meanwhile, total domestic gasoline stocks increased significantly by 5 million barrels to 239.6 million barrels last week.

At the close of Wednesday’s formal trading session, West Texas Intermediate increased by $1.33 to settle at $78.47. Crude prices rose last week due to persistent market optimism that global oil demand will be stronger than expected.

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.