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Ohio Among Top Ten States With Largest Gas Price Increase
MIAMI VALLEY -- Ohio is among the top 10 states with the largest weekly gas price increase.
The American Automobile Association reported today that for the first time since January 17, the national average registered higher last week than the same date the year prior, and today marks the most dramatic year-over-year premium since August 1, 2013.
Top Ten Largest Weekly Increases in Gas Prices
California 13 cents
Alabama 11 cents
Arkansas 11 cents
Illinois 10 cents
Kentucky 8 cents
South Carolina 8 cents
Texas 8 cents
Ohio 7 cents
Mississippi 7 cents
West Virginia 7 cents
The current average price for gas in the Miami Valley area is $3.63 compared to $3.28 a year ago. With slightly more than two weeks remaining before refiners must switch to producing summer-blend gasoline, AAA says, the national average is at the midpoint of AAAs forecast made in the beginning of the year.
Currently, the national average for a gallon of gas is $3.64, compared to $3.52 a year ago.
Nearing the May 1 deadline for refineries to start producing summer-blend fuel, seasonal refinery maintenance and the changeover itself increases the chances that an unplanned disruption to production may take place. The increased incidence of disruption puts upward pressure on prices, and can send prices sharply higher in an area that is supplied by an impacted facility.
These sorts of issues have been minimal so far this spring but should be watched as we count down to the switchover deadline," AAA Public Affairs Manager, Cindy Antrican said. "Also, suppliers tend to drawdown their supplies of gasoline at this time of year so as not to be left with higher RVP fuel that they can no longer sell after May 1. This has been on display in recent weeks, as gasoline stocks nationwide have dwindled.
PUMP PATROL: Find the cheapest gas where you drive
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China profits boost Asian stock markets
BEIJING (AP) -- Asian stock markets are mostly higher today, shrugging off jitters about stiffer Western sanctions against Russia, after China reported strong corporate profits.
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IN THE NEWS: PRO DRONES
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