COLUMBUS – Rising oil prices have sent gas prices skyrocketing toward $3 a gallon at a time of year when they usually fall like autumn leaves.
According to a daily survey from the auto club AAA, the Oil Price Information Service and WEX, Inc., the average price of a gallon of regular gasoline in Columbus Monday morning was$2.82, 16 cents higher than a week ago.
Industry analyst Trilby Lundberg of the Lundberg Survey says crude oil prices are the main reason for the increase at the pump.
The average U.S. price in Lundberg’s survey has spiked 7 cents in the last two weeks to $2.97.
The average price in Ohio was $2.82 in the AAA survey, 8 cents higher than a week ago.
“Crude oil accounts for half of the retail pump price and crude is selling at some of the highest price points in four years. That means fall and year-end prices are going to be unseasonably expensive,” Jeanette Casselano, AAA spokesperson, said.
Crude oil prices gave climbed higher amid concerns about global supply and geopolitical tensions, including pending sanctions with Iran and Venezuela’s unstable economy.