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Gas prices are 33 cents higher in Northeast Ohio this week at $4.432 per gallon, according to Monday's AAA East Central's Gas Price Report.
The national average for a gallon of regular gasoline is a penny cheaper this week at $4.28. The drop is fueled by the transition to winter-blend gasoline, which is cheaper to produce and costs less for consumers. But high crude oil prices are preventing steep declines at the pump. Currently, the price for a barrel of crude oil is over $100 per barrel amid instability in the Strait of Hormuz. This month is poised to set a record as the most expensive October ever for gas prices following similar records set in August and September of this year.
Last week, motorists fueling their vehicles at Northeast Ohio stations paid an average of $4.108. During the same period a year ago, that price was $2.964.
The average price of unleaded self-serve gasoline Monday in Youngstown was $4.319. In Niles the price was $4.380.
According to the Energy Information Administration, gasoline demand increased last week from 8.40 million barrels per day to 8.98 million. Total domestic gasoline supply decreased from 208.3 million barrels to 205.3 million. Gasoline production increased from 9.23 million barrels per day to 9.75 million barrels.
Near the close of Monday's formal trading session, West Texas Intermediate was $102.34 per barrel. The EIA reports that U.S. crude oil inventories decreased 3.1 million barrels to 412.5 million barrels, 3% below the five-year average.
The nation's top 10 most expensive gasoline markets are California ($6.01), Hawaii ($5.65), Washington ($5.30), Nevada ($5.30), Illinois ($4.88), Oregon ($4.87), Alaska ($4.84), Michigan (4.82), Idaho ($4.68) and Utah ($4.64).
The nation’s top 10 least expensive gasoline markets are North Carolina ($3.48), Georgia ($3.65), Texas ($3.71), South Carolina ($3.76), Louisiana ($3.78), Alabama ($3.81), Tennessee ($3.81), Mississippi ($3.83), Arkansas ($3.84) and Delaware ($3.90).
The national average per kilowatt hour of electricity at a public EV charging station stayed the same this past week at 41 cents.
AAA East Central is a not-for-profit association with 69 local offices in Kentucky, New York, Ohio, Pennsylvania and West Virginia serving 2.7 million members.