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Valley gas prices steady during the previous week

WARREN — Despite slight increases in fuel costs across the country and statewide, locally, the average price for a regular gallon of gasoline remained consistent last week, according to auto club AAA.

The average price of a gallon of regular gasoline in the Warren-Youngstown area on Monday was $2.02 — up a penny from a week ago. That compares to $2.28 a month ago and $1.50 the same time last year.

Ohio is among the states to experience the largest savings over the previous month, by 17 cents a gallon, according to AAA. Others are Delaware, by 18 cents; West Virginia, 16 cents; Illinois, 15 cents; and Wisconsin, 13 cents.

Statewide, the average price was 5 cents higher on Monday at $2.12 a gallon over the prior week, but down 17 cents from $2.29 a month ago. A year ago it was $1.55.

The average price Monday for a gallon of regular gas across the U.S. was $2.28, up a penny from a week ago’s $2.29, but down 7 cents from a month ago. It was $1.69 last year at this time.

AAA said gas prices have remained relatively steady the past month due to a well-supplied crude oil market.

On Monday, the Organization of the Exporting Petroleum Countries (OPEC) released its Monthly Oil Market Report showing that participating countries implemented 90 percent of the agreed upon production cuts, which took effect on Jan. 1. Despite production cuts by OPEC, the market remains overfed due to increased U.S. drilling and production, AAA reported.

business@tribtoday.com

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