COLUMBUS – The bad news about gas prices is that they are higher again this week; the good news is that the pace of the increases may be slowing down, according to one oil industry analyst.
The nationwide average price of regular gasoline jumped 3 cents a gallon in the past two weeks to $2.87 a gallon, according to a survey of service stations by analyst Trilby Lundberg.
She says it’s the smallest hike in nine weeks and the price is 82 cents a gallon lower than a year ago.
Analysts say a good gas supply and stable crude oil prices mean gas prices could stop rising and may drop in the next two weeks.
According to the daily survey by the AAA, the Oil Price Information Service and WEX, Inc., the average retail price in Columbus was 5 cents higher than the price on June 1, but 15 cents higher than one week ago.
The AAA says the local and statewide average prices Monday morning was $2.83 a gallon, up 13 cents from a week ago.
Average prices in Ohio were above the nation’s average, which was $2.80 per gallon on Monday, but remain significantly cheaper than last year at this time, when the price in central Ohio was $3.90 per gallon.