COLUMBUS, Ohio – Analysts who predicted that drivers had already seen the highest gas prices of the spring were off the mark.
According to the daily survey of gas stations by the AAA, the Oil Price Information Service and WEX, Inc., the average price of regular gasoline in Columbus Friday morning was $3.91, though many stations were posting $3.99, the first time prices had reached that level since June 7.
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Local prices have been affected by wholesale prices on the Chicago market, which have been driven higher by tighter supplies, increased demand and higher crude oil prices. The AAA says drivers in Ohio, Indiana and Michigan are suffering under some of the highest gas prices in the country.
The local price has increased 17 cents since May 19 while Ohio was one of only three states to see its average price go up more than a nickel, according to the auto club’s public relations manager, Michael Green.
The statewide average rose 8 cents overnight and, at $3.86 a gallon, is 20 cents higher than the national average.
There is even a wide range of prices within the state: The average price in Youngstown is $3.72.
Petroleum supplies are lower than last year, according to the government’s latest measure. The Energy Information Administration’s weekly report on nationwide petroleum inventories shows the supply of crude oil is 1.2 percent lower than last year and gasoline inventories decreased by 3.5 percent. The supply in the Midwest was 2 million barrels lower than 2013.
The higher prices also the result of crude oil prices that have risen because of political tensions tension in Ukraine and Libya.