Gas Prices in Ohio Reach New Record Highs

Jake Wells
photo of man pumping gasPhoto by Eric Mclean (Unsplash)

U.S. gasoline prices reached another record high as Russia's war in Ukraine continues to influence prices. (source)

According to AAA, the current nationwide average is $4.48.

Since last Thursday, Ohio has seen one of the largest increases in the average price with an increase of approximately 22 cents. (source)

Why Are Gas Prices So High?

According to new data from the Energy Information Administration (EIA), total domestic gasoline stocks decreased by 3.6 million bbl to 225 million bbl last week. Gasoline demand also decreased slightly from 8.86 million b/d to 8.7 million b/d. In most cases, an increase in demand would mean lower prices. But crude prices remain volatile, and as those prices surge, the price at the gas pump follow suit. (source)

In other words, as the price of crude oil is changing rapidly, expect to continue to feel the pain in your wallet every time you fill up.

So what can you do to save on gas?

Be intentional about filling up where gas prices are lowest. You can use apps like GasBuddy or even join a membership club like Costco. Another tip to consider is to use points loyalty programs. For example, Giant Eagle lets you earn points to get when you buy groceries that you can use for gas at GetGo fuel stations.

What do you think about gas prices? Please feel free to share your thoughts in the comments.

If you found this article helpful, please share it with friends or family on social media. Thanks!

Disclaimer: Please note that this article is only for educational and informational purposes.

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