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Staff report
Gas prices are stable in Northeast Ohio this week at $3.917 per gallon, according to AAA East Central's Gas Price Report on Monday.
A year ago, average prices in the region were $3.143 per gallon. The average price of unleaded self-serve gasoline Monday in Niles was $3.882 per gallon and $3.90 in Youngstown.
According to GasBuddy.Com, motorists reported the following prices Monday afternoon involving Sheetz convenience stores:
Austintown -- North Canfield-Niles Road, $3.85, and Mahoning Avenue, $3.89; Boardman -- Boardman-Poland Road, $3.73; Calcutta -- St. Clair Ave., $3.83; Canfield -- Boarman-Canfield Road, $3.73; Girard -- Salt Springs Road, $3.89;
Howland -- Niles Cortland Road, $3.88; North Jackson, Bailey Road, $3.99; North Lima -- Market Street, $3.89; and Warren -- Elm Road, $3.79, and East Market Street $3.81.
The national average for a gallon of regular gasoline jumped 11 cents from last week to $4.11. Twenty-eight states are now averaging $4 per gallon or higher. Rising crude oil prices are behind the spike at the pump. Volatility along the Strait of Hormuz and instability in the region have pushed crude oil prices above $80 per barrel.
Today's national average is 24 cents more than a month ago and 97 cents more than a year ago.
According to new data from the Energy Information Administration, gasoline demand increased last week from 8.84 million to 8.94 million barrels. Total domestic gasoline supply increased from 210.5 million barrels to 211.3 million. Gasoline production increased last week, averaging 9.7 million barrels per day.
During Monday afternoon's formal trading session, West Texas Intermediate was $82.70 a barrel. The EIA reports that crude oil inventories increased by 2 million barrels from the previous week. At 411.7 million barrels, U.S. crude oil inventories are about 6% below the five-year average for this time of year.
The national average per kilowatt hour of electricity at a public EV charging station stayed the same this past week at 42 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.