Bah humbug! Gas prices trend upward

Prices increased four cents to 3.226 this week in the region; Norwalk's prices average $3.253.
Norwalk Reflector Staff
Dec 26, 2012

Northeast Ohio motorists are ringing in the holiday with higher gas prices. Prices increased four cents to 3.226 this week in the region.

Today’s national average price for a gallon of regular unleaded gasoline is $3.247. Prices fell steadily for more than three months, as the transition to less-expensive, winter-blend gasoline; cheaper crude oil prices; increasing gasoline inventories; lower demand; and continued economic concerns meant relief at the pump for drivers across the country.

The national average was $3.87 on September 14, the day before much of the country began the seasonal fuel changeover, and dropped to a 2012 low of $3.22 last Thursday, December 20. As crude oil prices have firmed, the decline in retail gasoline prices has slowed and now reversed.

It is interesting to note the average national gas price on New Year’s Day for the last five years: 2008 - $3.04, 2009 - $1.62, 2010 – $2.65, 2011 - $3.07 and 2012 - $3.28.

Whether gas prices continue to rise or again turn lower will be impacted by action – or inaction – in Washington surrounding the looming “fiscal cliff.” If a deal is reached before the end-of-year deadline it will likely be seen as positive for the U.S. economy, which could send crude prices and gas prices higher.  If a deal is not reached, markets are likely to slump and gas prices could go even lower.

Crude oil prices increased to begin last week, settling above $90 per barrel on Thursday for the first time since October 19. However as hope for resolution in Washington faded on Friday, prices again turned lower and ended the week back below that threshold. At Monday’s close of formal trading on the NYMEX, the price of West Texas Intermediate (WTI) settled at $88.61 per barrel, down five cents on the day.

This week’s average prices: Northeast Ohio Average       $ 3.226

Average price during the week of December 18, 2012      $ 3.188

Average price during the week of December 27, 2011      $ 3.303

Today’s National Average Price                                          $3.247

The following is a list of the average price of unleaded self-serve gasoline in various areas: 

$3.260 - Alliance

$3.228 - Massillon

$3.225 - Ashland

$3.272 - Mentor

$3.238 - Ashtabula

$3.217 - New Philadelphia

$3.209 - Aurora

$3.212 - Niles

$3.248 - Chesterland

$3.253 - Norwalk

$3.228 - Cleveland

$3.255 - Oberlin

$3.183 - Elyria

$3.173 - Parma

$3.231 - Independence

$3.223 - Ravenna

$3.206 - Lorain

$3.163 - Solon

$3.239 - Lyndhurst

$3.259 - Willard

AAA East Central is a not-for-profit association with 80 local offices in Pennsylvania, West Virginia, Ohio, New York and Kentucky servicing 2.6 million members.  

Comments

Contango

News alert: Gas prices are volatile.

"Officially" the Guvament says that there is no inflation.

Checked the prices of food lately? Do you believe 'em?

All these trillions of dollar of Mr. Bernanke's money printing gotta go "somewhere."

Don’t fight the Fed – buy some stock and start gettin’ outa bonds.

luvblues2

You can't eat paper.

Contango

@ luvblues2:

If you have "any" savings that is.

So what are you buyin'; canned food and shot guns?

http://www.youtube.com/watch?v=F...

Long term; if you think that the financial world is gonna totally collapse and a new Dark Ages is upon us, it's probably not a bad idea.

luvblues2

I enjoy life, Contango. Ain't much sense in worrying about what I can't control. I do what I can to make me and those around me smile. If I have 3 million in pork bellies, that doesn't mean I get to eat them or keep them when I cash in.

Contango

@ luvblues2:

Not worryin'; plannin' and positioning for the future in order to provide ample food, clothing and shelter for me and my own as any responsible adult should IMO.

IMO ignorance ain't bliss.

Higher gas prices don't necessarily trouble me. H*ll, I own stock in 'em!

Estrella Damm

It was $1.87 49 1/2 months ago

Windy

Is it still Bush's fault?

Cliff Cannon

@ Windy : Yes,it is Bush's fault. The first President Bush,I mean. Which one did you mean ? :)

Contango

@ CC:

If one needs to "fault find," I think ya gotta at least go back to Mr. Carter and deregulation of the price of oil.

I didn't make this world, I'm just trying to live in it.

Cliff Cannon

@ Contango: I think we need to go back even further to find "blame" I have a May 27,1962 'McCalls' magazine which I bought at a garage sale simply because Jackie Kennedy and her children were on the front.


Claire Booth Luce had a column in it.She wrote on the 'distant' future (year 2000) and using the information futurist's gave her correctly predicted; India's population passing a billion,wars for resources fought under the guise of nationalism as well as shortages in nearly every resource on the planet.


In short,to sum up the cost of our gas I borrow from James Carville's famous maxim; " It's the population stupid"


Obviously,the world of 'intelligentsia' has known for a long ,long time that Americans needed to be taught to conserve resources as much as possible. Yet,what politician would throw away their career ( picture Pres. Carter giving his 'maliase' speech in a sweater to conserve energy) by taking a stand on such a topic ?


So here we are in 2012 whining about the cost of gas. Blaming every one but ourselves for this 'debacle'. All the while wasting enough gas daily through our own stupidity to power most nations.


Bottom line, I agree with you; " I didn't make this world,I'm just trying to live in it"