Gasoline prices may have hit summer low, on their way up
WARREN – Northeast Ohio gas prices gained six cents this week, according to AAA East Central motorists club.
A gallon of gasoline averages $3.392 in northeast Ohio. That is still lower than the $3.48 national average of regular unleaded gasoline. The national average is 31 cents less than the peak price this year of $3.79 on Feb. 27.
Despite recent downward trends in retail prices after regional supply disruptions were resolved, rising crude prices are again driving gasoline price increases, officials at AAA said. West Texas Intermediate crude prices Wednesday were close to $105 per barrel. It was the first time crude prices surpassed $100 per barrel since May 2012. The rising crude oil prices could mean the national average price at the pump is near its summer low.
In 2011, the national average reached a seasonal low of $3.54 per gallon on June 30. In 2012, it bottomed at $3.33 on July 2.