Gas prices in NEO soar to more than 14 cents

Northeast Ohio motorists will be putting lower gas prices on their holiday wish list since prices escalated 14.3 cents per gallon this week. The Northeast Ohio average price for a gallon of self-serve, regular unleaded gasoline is currently $2.965.

According to AAA’s Fuel Gauge, crude oil prices settled at a multiyear high of $89.38 Monday, up only 19 cents on the day but $3.65 from a week ago.

After a choppy start to last week, crude prices saw a dramatic run-up to end the week at its highest close since October 8, 2008. These gains were largely credited to an aligning of bullish news for crude markets, including economic growth in the US and China; a decline in the US dollar; and positive fundamental data reports.

AAA East Central is a not-for-profit association with 80 local offices in Ohio, Pennsylvania, West Virginia, New York and Kentucky servicing 2.6 million members.