Local Gas Prices Still On The Rise

Purdue economist Wally Tyner predicts gas prices 40 to 50 cents higher than last summer in Indiana

Purdue economist Wally Tyner predicts gas prices 40 to 50 cents higher than last summer in Indiana

The average price of gas in the state of OH is $2.72 per gallon with a seven cents increase overnight.

McTeague said the separation is mostly due to the price discount on diluted bitumen which makes up about 60 per cent of Canadian oil output, versus the much higher price for refined light crude.

"In the United States, one of the largest potential impacts could be increased crude oil prices due to re-instate sanctions on Iran".

"We expect prices to continue increasing, potentially another 5 to 10 cents, through Memorial Day", said Tammy Arnette, senior public affairs specialist for AAA Mid-Atlantic.

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By region, the West Coast remains the most expensive market, with every state but Arizona recording an average price above the $3 per gallon market.

On Monday afternoon, the average price of a gallon of regular gas in OH was $2.81, while last week's average was $2.71.

There are 15 states with gas prices lower than they were last week, according to Patrick DeHaan, head of petroleum analysis for GasBuddy.

Arizona, AZ, May 7- Average retail gasoline prices in Arizona have risen 1.6 cents per gallon in the past week, averaging $2.93/g yesterday, according to GasBuddy's daily survey of 2,269 gas outlets in Arizona.

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Trump's decision to exit the Iran nuclear agreement and re-impose sanctions on the OPEC nation could lift prices even higher.

Oklahoma ($2.52), Arkansas ($2.53) and MS ($2.54) are the three states in the country with the cheapest state gasoline averages. Until a decision is made, the oil market remains restless, inching toward a $70 per barrel threshold, which hasn't been breached since November 26, 2104, the auto club said. Previous year we paid an average of $2.85.

President Trump has until Saturday to decide whether to extend the existing Iranian deal or restore penalties on one of the world's biggest oil producers.

Ohioans could be paying more money at the pump as we get closer to the summer months.

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Gas prices have fallen in the Lansing area.

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