KENTON — Despite lower prices the past few weeks, gas prices are expected to rise, according to Patrick DeHaan, head of petroleum analysis for GasBuddy.
As of Monday afternoon, Hardin County had the lowest gas prices in the Greater Lima Region at $2.58, which is 26 cents less than the national average.
The county with the second lowest average gas price is Van Wert at $2.66, followed by Mercer at $2.691, Hancock at $2.696, Auglaize at $2.697, Allen at $2.732, Shelby at $2.75, Putnam at $2.77 and Logan at $2.85.
On Monday afternoon, the average price of a gallon of regular gas in Ohio was $2.77, while last week’s average was $2.68. Sunday’s gas prices were 0.8 cents cheaper than Monday’s average. Last month’s gas prices were four cents higher lower this month’s. Gas prices are 46.5 cents higher than last year.
Gas prices in the Lima region have increased 10.2 cents since last week, according to prices reported to GasBuddy.com. Sunday’s gas prices were 8.3 cents higher than Monday’s prices. Regional gas prices are 9.6 cents lower than last month and 44.1 cents higher than last year, according to GasBuddy’s daily survey of 5,345 gas outlets in Ohio.
The national average has gone up 0.9 cents from last week at $2.83. Sunday’s gas prices was consistent with Monday’s prices. Gas prices have gone up 53.2 cents since last year and are down 0.7 cents since last month.
Gas prices have risen due to perceived lower trade tensions between the U.S and the European Union and lower U.S. oil and fuel inventories after last week’s Department of Energy Weekly Petroleum Status Report, according to DeHaan.
“Indications of continued strong summertime demand for gasoline along with robust fuel export numbers could serve to help sustain moderately higher gas prices, but more geopolitical events, such as the closing of oil ports on the Red Sea, affecting Saudi Arabian crude exports, are sure to provide more upward momentum for fuel prices in the week ahead,” said DeHaan in a news release.
Reach Camri Nelson at 567-242-0456 or on Twitter @CamriNews.