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Gas prices tumble a bit

 
Gas prices tumble a bit
Posted March 25th, 2014 @ 4:48pm

(Cleveland) - Area Gas Prices Down Seven Cents. Northeast Ohio gas prices fell seven cents to $3.56 a gallon this week, according to Ohio AAA.

In some Greater Cleveland areas, gas can be found for as cheap as $3.46 a gallon.

On the National Front, Today’s national average price at the pump is $3.53 per gallon. This is 12 cents more expensive than one month ago, but just a penny above one week ago and 14 cents per gallon less than the same date last year.

Bevi Powell of Ohio AAA says the current pricing trends are dictated by the impact of seasonal refinery maintenance and any disruptions to production or distribution.

As is the case each spring, refiners are required to switchover to producing summer-blend gasoline by May 1.

Powell tells Newsradio WTAM 1100, the maintenance that refineries undertake in advance of the switchover and the actual switch itself increases the chance of disruptions to production, which can send prices higher in the affected area.

She says, while refinery issues have thus far been minimal this spring, the next several weeks will bear close attention.

Powell explains, pump prices in most states have moved higher over the last week; however prices did fall in 20 states, including a seven-cent tumble in Ohio.

Midwest, and in particular Great Lakes, states have consistently topped the list of most dramatic price changes.

Only prices in Hawaii are above the $4 per gallon threshold. Drivers in California pay the most in the continental U.S. ($3.98), followed by a handful of states the Northeast (New York and Connecticut: $3.77; and Maine: $3.64) and the Great Lakes region (Illinois: $3.74; Michigan: $3.71; and Indiana: $3.68).

Lofty domestic crude oil supplies have largely offset geopolitical tensions with Russia and positive U.S. economic data, as crude oil prices continue to trade in a narrow range.

West Texas Intermediate crude settled 14 cents higher at $99.60 per barrel on Monday.

This week’s Northeast Ohio average price: $ 3.561 Average price during the week of March 18, 2014: $ 3.633 Average price during the week of March 26, 2013: $ 3.727

The following is a list of the average price of unleaded self-serve gasoline in various areas:

$3.555 Alliance
$3.564 Ashland
$3.573 Ashtabula
$3.594 Aurora
$3.596 Chesterland
$3.612 Cleveland
$3.597 Elyria
$3.591 Independence
$3.564 Lorain
$3.619 Lyndhurst
$3.466 Massillon
$3.543 Mentor
$3.507 New Philadelphia
$3.547 Niles
$3.557 Norwalk
$3.520 Oberlin
$3.547 Parma
$3.480 Ravenna
$3.606 Solon
$3.575 Willard


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(Photo by staff/WTAM)

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