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AAA: Why gas prices fell after Fourth of July in northeast Ohio

By Kelcey Norris Mahoning Matters
How gas prices have changed in Youngstown in the last week
How gas prices have changed in Youngstown in the last week McClatchy Wire

The average price for gasoline across northeast Ohio is seven cents lower this week than last week at $3.21 per gallon, according to reports from AAA East Central.

Ohio: price at the pump

Here’s a look at the state’s average prices:

Average price during the week of July 10, 2023 in northeast Ohio: $3.21

Average price during the week of July 3, 2023 in northeast Ohio: $3.28

Average price during the week of July 11, 2022 in northeast Ohio: $4.59

Despite the expected demand surge due to July Fourth travel and barbecues, AAA reports unleaded self-service gasoline prices are staying consistently low on average.

The average price for a gallon of gas is $3.13 in Niles, while it’ll cost about $3.22 for a gallon of gas in Youngstown.

According to AAA, the lowest average this week is at $2.97 per gallon in Ravenna, while the highest this week is at $3.54 per gallon in Aurora.

Gas prices across the nation

Today’s national average is four cents lower than a month ago and $1.14 less than a year ago, according to AAA.

AAA also provided insight into new data from the Energy Information Administration (EIA):

“Gas demand increased slightly from 9.31 to 9.6 million barrels per day last week. Meanwhile, total domestic gasoline stocks decreased by 2.5 million barrels to 219.5 million barrels.

At the close of Wednesday’s formal trading session, West Texas Intermediate increased by $2 to settle at $71.79. Oil prices have increased due to market concerns that supply may be tight through the remainder of 2023.

However, price increases have been capped due to ongoing market fears that a recession will occur. Additionally, the EIA reported that total domestic commercial crude inventories decreased by 1.5 million barrels to 452.2 million barrels.”

Motorists can find current gas prices nationwide, statewide, and countywide at gasprices.aaa.com.

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