Gas prices remain high for three weeks


By Camri Nelson - cnelson@limanews.com



LIMA — Gas prices have been consistently high for three weeks straight, with a national price average of $2.87.

Hardin County has the lowest gas prices at $2.76. Hancock has the second lowest gas prices at $2.73, followed by Mercer at $2.73, Allen at $2.762, Auglaize at $2.78, Putnam at $2.791, Van Wert at $2.792, Shelby at $2.80 and Logan at $2.85.

On Monday afternoon, the average price of a gallon of regular gas in Ohio was $2.80, while last week’s average was $2.79. Gas prices have gone up 19.8 cents from last month’s average and have increased 53.3 cents from last year’s average.

Gas prices in the Lima region have gone down 3.7 cents since Sunday, according to prices reported to GasBuddy.com. Lima’s gas prices have gone up 11.7 cents since last week. Gas prices have gone up 17 cents since last month, according to GasBuddy’s daily survey of 5,345 gas outlets in Ohio.

The national average has gone up 0.8 cents since last week at $2.87. Gas prices have gone up 53.5 cents since last year and is up 16.2 cents since last month.

Within the past few weeks, gas prices have been increasingly high due to President Trump’s decision to withdraw the United States from the nuclear deal with Iran and oil supplies that have continually dropped as U.S. exports rise past Venezuela, a country that has the largest amount of oil reserves in the world, according to Patrick DeHaan, head of petroleum analysis for GasBuddy.

Another factor that has caused high gas prices has been money which has continued to flow into commodities as bets for higher oil prices rise, according to DeHaan. He also believes that there is a high possibility that crude oil prices will continue to rise and gas prices may reach as high as $3.

“Gas prices saw among the larger weekly increases since Hurricane Harvey in the last week as oil prices continued to surge, leading to sharply higher prices at the pump, putting the U.S. in peril of striking the $3-per-gallon level for the first time since 2014,” said DeHaan.

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By Camri Nelson

cnelson@limanews.com

Reach Camri Nelson at 567-242-0456 or on Twitter @CamriNews

Reach Camri Nelson at 567-242-0456 or on Twitter @CamriNews

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