COLUMBUS – Wildfires in the Canadian oil sands may impact drivers in central Ohio in the form of higher gas prices.
According to a daily survey from the auto club AAA, the Oil Price Information Service and WEX, Inc., the average retail price of regular gas in Columbus was $2.26 a gallon, 11 cents higher than last week. The price at the pump has risen during seven of the past eight weeks in Columbus and is now 14 cents higher than it was a month ago.
Although the average price in Ohio of $2.26 is 13 cents higher than last month, it is still 37 cents cheaper than in 2015.
The nationwide average price was $2.22, 48 cents below last year’s price (see graph).
Crude oil from the area of Alberta affected by an enormous wildfire is sold and refined in the Midwest, where the spot market is notoriously volatile.
Inventories in the Midwest fell for the 12th consecutive week due to growing demand and heavy refinery maintenance, the auto club’s analysts said.