Gas prices spiking across Ohio due to high demand

Gas prices are increasing across Ohio.
The average price of gasoline across Northeast Ohio is 26 cents higher this week, according to Triple A East Central's Gas Price Report.
Since last Monday, the national average for a gallon of regular gasoline has increased by four cents to $3.40, which is 12 cents less than a month ago and 28 cents less than a year ago.
According to Triple A, this weeks increase can be attributed to higher demand, as the cost of oil has barely budged for the past few weeks.
Gas demand jumped from 8.91 million to 9.11 million barrels per day last week. Total domestic gasoline stocks decreased by nearly 1 million barrels to 239.2 million barrels last week. The increase in gas demand, amid tighter supplies, has contributed to rising pump prices.
Another reason for higher gas prices is that the seasonal switch to summer blend gasoline is underway. This blend lowers emissions but is more expensive to refine. Switching to summer blend can add about five to ten cents to the price of gasoline.
Average prices of the unleaded self-service gasoline in various areas throughout Ohio:
• $3.469 Alliance
• $3.410 Ashland
• $3.373 Ashtabula
• $3.499 Aurora
• $3.495 Chesterland
• $3.407 Cleveland
• $3.357 Elyria
• $3.472 Independence
• $3.344 Lorain
• $3.432 Lyndhurst
• $3.432 Lyndhurst
• $3.259 Massillon
• $3.402 Mentor
• $3.428 New Philadelphia
• $3.408 Niles
• $3.394 Norwalk
• $3.466 Oberlin
• $3.344 Parma
• $3.371 Ravenna
• $3.430 Solon
• $3.435 Willard
• $3.344 Youngstown
At the close of Wednesday's formal trading session, West Texas Intermediate increased by 64 cents to settle at $77.69. Crude prices increased after the market saw that manufacturing activity rose in China last month, signaling that global oil demand may be more robust than anticipated this year. Additionally, the EIA reported that total domestic commercial crude inventories increased by 1.2 million barrels to 480.2 million barrels last week.
Motorists can find current gas prices nationwide, statewide, and countywide here.