COLUMBUS – When the clocks go forward, gas prices go up. It’s the law.
Of supply and demand, that is.
“Very soon, it will be Daylight Saving Time, which bumps demand,” said oil industry analyst Trilby Lundberg, explaining why she expects prices at the filling station to reverse their recent downward trend and head higher.
Daylight Saving Time, when clocks in much of the nation are set one hour ahead, leading to later sunsets, begins on March 11.
The average price for a gallon of regular gasoline in Columbus Monday morning was $2.41, 12 cents higher than a week earlier, the second consecutive double-digit week-to-week increase, according to a daily survey by the auto club AAA, the Oil Price Information Service and WEX, Inc.
Prices are lower than a month ago, but most analysts say that the upward curve is the most likely long-term outlook.
“The higher cost of spring gasoline will be hitting too,” Lundberg added.
AAA analysts predicted last week that the national average price could reach $2.70 a gallon this spring, the highest in three years.
The nationwide average price Monday morning was $2.53.