AAA: Gas Prices Continue to Fall in Ohio
The average price for gasoline across Northeast Ohio is 11 cents lower this week at $3.141 per gallon, according to AAA East Central’s Gas Price Report.
This week’s average prices: Northeast Ohio Average $3.141
Average price during the week of February 21, 2023 $3.259
Average price during the week of February 28, 2022 $3.352
Average prices of the unleaded self-service gasoline in various areas: $3.215 Alliance
$3.094 Ashland
$3.022 Ashtabula
$3.279 Aurora
$3.294 Chesterland $3.233 Cleveland $3.068 Elyria
$3.197 Independence $3.100 Lorain
$3.290 Lyndhurst $3.000 Massillon
$3.053 Mentor
$3.212 New Philadelphia
$2.916 Niles
$3.187 Norwalk
$3.130 Oberlin
$3.158 Parma
$3.032 Ravenna
$3.210 Solon
$3.202 Willard
$3.063 Youngstown Trend Analysis:
The national average for a gallon of gas fell five cents over the last week to $3.36. The main reason is the price of oil, which fell into the mid $70s per barrel, nearly $5 cheaper than earlier this month.
Today’s national average of $3.36 is 14 cents less than a month ago and 24 cents less than a year ago.
According to new data from the Energy Information Administration (EIA), gas demand increased slightly from 8.27 million barrels per day to 8.91 million barrels per day last week. Meanwhile, total domestic gasoline stocks decreased by 1.8 million barrels to 240.1 million barrels last week. However, decreasing oil prices have contributed to pushing pump prices lower.
Crude prices have declined over the last few weeks due to the strengthening of the dollar and market concerns about increasing domestic oil inventories. EIA reported that total domestic commercial crude inventories increased substantially by 7.6 million barrels to 479 million barrels last week.
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.