Nationwide, the average price of gasoline has increased for four consecutive weeks, reaching $3.26 per gallon as of February 19th. This represents an 8.7-cent increase from the previous week and a 16.7-cent increase from a month ago. While it’s still 11.6 cents lower than a year ago, experts warn that prices could continue to climb in the coming months.
Several factors are driving this trend:
- Early start to spring maintenance: Refineries are already undergoing pre-summer maintenance, which can temporarily reduce gasoline supply and push prices up.
- Tightening global oil inventories: Demand typically increases during this time of year, while global oil supplies are shrinking.
- Geopolitical tensions: Recent conflicts in the Middle East add further uncertainty to the oil market.
Analysts are divided on how high gas prices could go. Some predict an early peak followed by a decline, while others warn of potential increases until Memorial Day.
Local Gas prices average per county in Southern Ohio
Fairfield 3.28 per gallon
Fayette County 3.24 per gallon
Franklin County 3.32 Per gallon
Hocking county 3.30 per gallon
Pickaway County 3.22 Per Gallon
Ross County 3.27 Per Gallon
Key takeaways:
- Gas prices have been rising for four weeks straight.
- The national average is $3.26 per gallon, up 8.7 cents from last week.
- Prices could continue to climb in the coming months.
- Several factors are driving the increase, including refinery maintenance, tight oil supplies, and geopolitical tensions.
The impact on consumers: Rising gas prices can strain household budgets and impact travel plans. It’s important to stay informed about price trends and shop around for the best deals.
