Gas prices take a dive in Northeast Ohio

Motorists may be feeling less of an impact when filling up their vehicles at the pump this week.
That's because the average price for gas across Northeast Ohio is 10 cents lower this week, according to AAA East Central's Gas Price Report.
This week's average prices in Northeast Ohio are $3.498, last week, the average price was $3.599.
In Youngstown, the average price is $3.427 and in Niles, the average price is $3.377.
According to a trend analysis from AAA, today’s national average is eight cents more than a month ago but four cents lower than a year ago.
However, the price of oil has declined and is staying around $80 per barrel, contributing to lower pump prices.
As Labor Day approaches, gas demand and volatile oil prices, particularly during an active hurricane season, could impact prices.
According to new data from the Energy Information Administration (EIA), gas demand jumped from 8.85 to 8.91 million barrels per day last week.
Meanwhile, total domestic gasoline stocks increased slightly from 216.2 to 217.6 million barrels. Although demand increased, growing stock levels contributed to pushing prices lower.
Oil prices have declined amid market concerns that an economic slowdown in China, the world’s largest importer of crude oil, could push global oil demand down. The price of oil has declined despite the EIA reporting that total domestic commercial crude inventories decreased from 439.7 to 433.5 million barrels last week.