COLUMBUS, Ohio – The price of gas has jumped in the last two weeks but is still well short of what drivers in central Ohio are paying to fill up.
According to the Lundberg Survey, the average U.S. price of a gallon of gasoline has jumped 10 cents over the past two weeks to $3.51.
The cost for a gallon of regular in central Ohio was $3.61 in Monday’s survey from auto club AAA, the Oil Price Information Service and WEX Inc. That’s unchanged from a week ago and 3 cents higher than on Feb. 24.
The statewide average was 35 cents higher than a month ago, but is 2 cents lower than last year at this time.
Prices at the filling station are up because of a combination of seasonal maintenance at refineries and rising crude oil prices due to tension in Ukraine. Russia’s advance into the country raised fears of economic sanctions against one of the world’s major energy producers, AAA public relations manager Michael Green said.
Green says prices should continue to rise in the coming weeks due to seasonal refinery maintenance but the national average is expected to peak between $3.55-3.75, short of last year’s high.
However, tensions with Russia in Ukraine could impact global oil supply. Russia is the third largest oil producing country, behind Saudi Arabia and the U.S., according to the most recent Energy Information Administration data, Green says. Any disruption to global supply could send prices higher, which will probably be reflected at the pump.