NEO gas prices increase almost a nickel

This week, Northeast Ohio motorists will find that gas prices have increased 4.9 cents a gallon when they head to the pump.

The average price for a gallon of self-serve, regular unleaded gasoline is $2.767.

According to AAA’s Fuel Gauge, oil prices closed Monday down 68 cents to $78.48, ending a day of choppy trading.

Much of the gains from last Friday were returned as crude oil fell from a 7-week high on concerns over the impact of the first named storm of the Atlantic hurricane season.

Tropical depression Alex is expected to make landfall tomorrow and is forecast to hit Brownsville, Texasm near the border of Mexico. While the storm is expected to miss refining and drilling operations in the Gulf, it is expected to cause 2-4 foot wave swells pushing the unrecovered oil farther into previously unaffected areas of the coast.

Despite the ongoing attention of the spill and cleanup efforts, it has not had any impact on gas prices in the short term.