COLUMBUS, Ohio – Although prices at the gas pump are at five-month highs, they were still the lowest in four years for the month of March.
The national average price of gas on Monday was $3.56 per gallon, the highest daily average since September 11, 2013, but the monthly average of $3.507 per gallon was the least expensive for March since 2010, AAA spokesman Avery Ash said.
The auto club’s daily survey puts the average price for Columbus at $3.54 a gallon, 10 cents cheaper than on March 1.
The higher prices in March are being blamed on shrinking gasoline supplies due to continued refinery maintenance, the switchover to summer-blend gasoline and an increase in demand. AAA expects demand will continue to increase with warmer weather and increased driving, but Ash says most refineries will have completed maintenance by the end of April, allowing supplies to catch up before the summer driving season.
Tension over Ukraine has also driven the price of crude oil higher.