February 20, 2014
South Central Ohio gas prices rose almost eight cents to $3.41 this week, according to AAA East Central.
On the National Front
Today’s national average price at the pump is $3.31 per gallon. This is three cents more expensive than one week ago, a fraction of a cent less than one month ago and 28 cents less than the same date last year.
In a departure from recent years, national gas prices have been largely flat to begin 2014. This can be attributed in part to cold temperatures keeping drivers off of roads but also to the absence of the looming production concerns overseas or regional refinery issues that have propelled retail gasoline prices higher out of the gate the last several years. In 2011 escalating violence in Egypt and then Libya spurred pump prices higher, in 2012 the catalyst was growing tensions with Iran. In both of these instances global production concerns linked to geopolitical issues sent crude oil prices and ultimately gas prices higher. In 2013 the early-year gas price increase was not a product of surging crude prices globally but of production issues domestically. Regional refinery issues leading up to the seasonal switchover to summer-blend gasoline production raised domestic supply concerns and sent retail prices sharply higher.
Prices at the state level, like the national average, have been relatively flat to begin the year, and many states are reflecting lofty year-over-year discounts for motorists.
Crude oil prices had been relatively stable to begin the year; however prices moved higher to end last week, settling on Friday just short of the $100 per barrel threshold. Despite increasing just 18 cents on the day, West Texas Intermediate (WTI) settled at $100.06 per barrel on Monday. This marks the first time since October 18 that WTI has settled above the $100 threshold.
This week’s South Central Ohio average price:
Average price during the week of February 4, 2014:
Average price during the week of February 12, 2013:
The following is a list of the average price of unleaded self-serve gasoline in various areas:
Washington Court House
AAA East Central is a not-for-profit association with 82 local offices in Pennsylvania, West Virginia, Ohio, New York and Kentucky servicing 2.7 million members.