Motorists in Northeast Ohio are paying 2.9 cents less this week for a gallon of fuel. The price of a gallon of regular, unleaded, self-serve gasoline currently costs $2.471 at the pump.
According to the AAA Fuel Gauge, although crude oil prices have moved below $60 per barrel in the last week and are currently near $57, the nationwide average gasoline price is still at a high level $2.55 per gallon and is not expected to drop even with the lower oil price.
How high gasoline prices will go this spring will depend on how smoothly refiners transition to producing their summer blends, and how strong consumer demand is for gasoline. Current indications are that gasoline demand is well ahead of year ago levels, but there is concern on the part of some analysts that demand for gas may soften this summer and fall due to slower growth in the U.S. economy.
This week's average prices: Northeast Ohio Average $2.471
Average price during the week of March 13 $2.500
Average price during the week of March 24, 2006 $2.454
The following is a list of the average price of unleaded self-serve gasoline in various areas: