The statewide average for regular is $4.159, according to AAA spokeswoman Jacklyn Ghergurovich. That’s the highest average since $4.05 a gallon for regular on July 3, 2008, she said.
“Here in Ohio, we’re just not used to those prices,” said Deborah Barga, chief executive of AAA Shelby County.
She cited the usual suspects when it comes to rising gas prices: instability in the Mideast, including the conflict in Libya; rising demand for gas in China and India; and “speculators” betting on higher gas prices in the future.
Gas prices vary by location, with convenience costing motorists more, Ghergurovich said. “People may not go further to look for something” less expensive, she said.
The Dayton average for regular-grade gas Wednesday was close to the AAA statewide average at $4.15, according to DaytonGasPrices.com at noon. That ranged from $4.01 to $4.19.
Tom Kloza, chief oil analyst for the Oil Price Information Service, said most of the country and the world are seeing prices rise. He said he doesn’t believe the rise is permanent, and he pointed to a “cluster of events” behind recent increases.
Refinery maintenance in the Great Lakes region is happening later this year because of cold weather, and temporary events at refineries in other parts of the country have left the Midwest with about five million barrels less than the region had last year at this time, he said.
“This is not the beginning of the new normal. This is not the beginning of the march to five” dollars a gallon.
While Kloza points to less plentiful supplies in the Midwest, an industry survey by the American Petroleum Institute said U.S. crude supplies grew by 3.2 million barrels last week.
And MasterCard SpendingPulse said in its weekly survey said Americans are buying less gas. SpendingPulse said the four-week average of retail gas demand dropped for the sixth consecutive time. For the latest updates PRESS CTR + D or visit Stock Market news Today
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