COLUMBUS – Gas prices remain as volatile as ever in central Ohio but the overall trend is still downward as the average retail price at the pump Monday morning was higher than a week ago but cheaper than last month at this time.
According to a daily survey of gasoline prices by the auto club AAA, the Oil Price Information Service and WEX, Inc., the average price of a gallon of regular gas in Columbus Monday morning was $1.57, up 12 cents from a week earlier but 25 cents lower than on Jan. 15.
The statewide average of $1.55 was 23 cents cheaper than a month earlier.
The national average price was $1.70.
Prices in the Midwest and Great Lakes region are known to fluctuate but Ohio, Indiana, Michigan and Illinois are all reporting the largest yearly savings in the nation, approximately 75 cents.
The auto club says gasoline demand typically begins to increase starting in February and the month also marks the beginning of the spring refinery maintenance season. The combination of increased demand and reduced supply has historically led to prices that climbed higher until August.
However, supplies remain ample in the Midwest and the AAA analysts say, if crude oil prices remain relatively low, that could mean 2016 is the exception that proves the rule.