It sure is a crazy market.
Not two months ago, we here in Ohio were paying more than anyone in the country outside of California for gasoline.
Not anymore. Reports this week show that while the nationwide average price of gas is about $2.87 per gallon, we Buckeyes are basking in the glow of gas in the $2.67 range.
In Norwalk, according towww.norwalkreflector.com, the prices ranged from $2.69 to $2.74, above the approximately $2.50 some were reportedly paying in Central Ohio but still well below the national average.
Better fill'erup now because it won't last long. In fact, by the time this is printed and in your homes, it may be too late to take advantage of the savings.
According to Brad Proctor, founder of the Centerville-based Web site GasPriceWatch.com, what is happening in Ohio is an anomaly. Proctor thinks prices will be going up by today.
In addition, the Columbus Dispatch reported, Ohio and the rest of the Midwest is enjoying a bit of a gasoline glut at the moment thanks to two refineries in Kansas and Indiana coming back online this month. They were closed recently because of maintenance problems, causing prices in the region to spike by about 24 cents a gallon.
Alas, it appears the good times will be fleeting. Thanks to an inventory report by the Energy Department's Energy Information Administration, which said crude inventories had fallen, along with violence in Nigeria, oil futures settled Tuesday at a record high above $78. No doubt that will translate soon into higher pump prices, even before the normal Labor Day spike.
If there's one thing we've learned about gasoline prices, they can and do change quickly, so get it while you can. We may not see these prices again for some time.