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Northeast Ohio gas prices decrease

Published: September 30, 2016 10:00 AM

Northeast Ohio gas prices see a decrease, hovering around $2.080 a gallon, according to AAA East Central's Fuel Gauge report. The national average is $2.207.

Local prices include $2.122 in Alliance and $1.951 in Massillon.The national average price of regular unleaded gasoline remained relatively stable over the past week, settling at today's price of $2.21 per gallon. Drivers are paying the same price per gallon month-over-month, and 8 cents less per gallon year-over-year.

Although today's average remains flat compared to one week ago, pump prices have been pressured higher in some regions due to disruptions on the Colonial Pipeline.

Drivers in a number of states (25) are paying less at the pump week-over-week, although some volatility remains in the Southeastern and Mid-Atlantic regions where gasoline prices continued to see upward momentum as a result of the Colonial Pipeline disruption.

Line 1 operations were restored on Wednesday of last week after more than a week of downtime following the discovery of a leak. While delivery of fuel resumed, it may take a week before affected states see any relief at the pumps.

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Pump prices in the Great Lakes region continue to be the most volatile in the nation.

The fluctuating prices can likely be attributed to the transport of gasoline to the southeast due to issues on the Colonial Pipeline. OPIS reports that during the pipeline disruption, a large quantity of Midwest product was transported to Tennessee, Virginia and North Carolina in order to mitigate supply outages. As Line 1 begins pushing supply to impacted areas, many states that saw increases early in the month are beginning to see significant weekly discounts: Ohio as an example (-10 cents ).

Gas prices in most of the Northeast have remained relatively steady over the past week, a large contrast to the spikes seen in much of the Mid-Atlantic region as a result of problems on the Colonial Pipeline. States in the region suffering from tighter supplies and rising prices should begin to see some relief in the coming weeks.

The completion of a bypass on Line 1 of the pipeline last Wednesday has allowed product to begin moving to impacted states, although OPIS reports that many marketers are warning that supply will still be touch-and-go through the remainder of the month.

At the close of Friday's formal trading session on the NYMEX, West Texas Intermediate closed down $1.84 to settle at $44.48 per barrel.

Motorists can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android.

The app can also be used to map a route, find discounts, book a hotel and access AAA roadside assistance.


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