COLUMBUS, Ohio – Motorists are paying a bit less at the pump to start the new work week, but the relief may be short-lived, according to at least one analyst.
The impact of political unrest in Iraq has not been felt at most of the nation’s gas pumps so far, but that’s about to change, Trilby Lundberg said.
The cost for a gallon of regular gas in central Ohio was averaging $3.73 in Monday’s survey from auto club AAA, the Oil Price Information Service and WEX Inc. That’s 16 cents less than a week ago and 24 cents cheaper than when the month of June began.
Monday’s Ohio price of $3.74 is about a dime lower than a month ago, but it’s about 21 cents higher than last year at this time.
The national average Monday was $3.68 per gallon, a couple pennies more than a week ago.
Lundberg said Sunday that crude oil prices rose over jitters about Iraqi oil production as violence there grows.
Much of that increase had not been passed on to consumers yet, and prices could increase over the coming weeks.
The exception to that was in the Great Lakes, where drivers were socked with higher prices early in June. Prices slowly decreased in the Midwest until they aligned more or less with the rest of the nation.