Ohio gas prices fall

Ohio gas prices fall

YOUNGSTOWN

Pump prices have gone down another 5 cents in Ohio over the last week as declining oil prices take gasoline along for the ride.

Monday’s survey from auto club AAA, the Oil Price Information Service and Wright Express shows regular-grade gasoline is averaging $3.51 a gallon statewide, compared to $3.56 a week ago.

A year ago, Ohio motorists were paying $2.58, on average.

In the Mahoning Valley, the average for a gallon of gas Monday morning was $3.44, 3 cents cheaper than it was last week.

The cost of gasoline in the state has dropped 16 percent since May 4, when regular hit a record $4.16 per gallon.

Oil Price Information Service retail pricing director Fred Rozell says gas could be around $3.25 a gallon by Labor Day and may drop as low as $3.15 by the end of the year.

Oil prices have been sliding on fears that another recession could cut demand for energy.

$103M for broadband to expand in rural US

richmond, va.

Telecommunications companies in 16 states will share more than $103 million in federal funding to help expand broadband Internet access to those areas of rural America that haven’t been reached by the high-speed service or are underserved, the U.S. Department of Agriculture announced Monday.

Policymakers, public-interest groups and telecom companies are seeking to bridge the digital divide by reaching even the most remote pockets of the U.S. with broadband internet, hoping to improve economic and educational opportunities there.

Survey: Small raises for workers in ’12

new york

A new survey says salaried U.S. workers can expect another year of modest raises in 2012.

After increasing salaries by 2.6 percent this year and last year, companies are planning a 2.8 percent bump in 2012, benefits and human resources consultancy Towers Watson reported Monday.

That’s somewhat smaller than raises in the last decade. From 2000 to 2006, the year before the Great Recession began, salaries rose an average 3.9 percent for workers who were not executives.

IPOs knocked out

new york

Companies have withdrawn initial public offerings this month at a pace not seen since December 2008. Only four have dared go public during three weeks marked by wild price swings and more than 10 percent declines in the major stock indexes.

Prior to the recent slowdown in IPOs, many market watchers had predicted this year would be the strongest for public debuts since before the recession began. They expected more than 200 IPOs.

It’s become “a little ambitious” to expect that many debuts this year in light of what’s happened to markets in August, said David Menlow of research firm IPO Financial.

Vindicator staff/wire reports

Selected local stocks

STOCK, DIVIDENDCLOSECHANGE

Aqua America, .62, 20.99 +.09

Avalon Holdings,2.64—.01

Clear Channel, .63 52.29 +.48

Cortland Bancorp, 7.10.00

Farmers Nat., .12, 4.24 —.01

First Energy, 2.20, 41.35—.40

FirstMerit Corp., .64,11.43 +.07

First Niles Financial, .32,7.25.00

First Place Fin., .70+.08

FNB Corp., .48,8.19—.01

General Motors,21.71—.45

General Electric, .60,15.11+.02

Motors Liquidation, .0422.00

Huntington Bank, .04, 4.53—.03

JP Morgan Chase, 1.00,33.41—.94

Key Corp, .12,6.05+.04

LaFarge, 9.70 —.08

Macy’s, .40, 23.42+.24

Parker Hannifin, 1.48, 63.60—.43

PNC, 1.40,42.98—.14

RTI Intl. Metals,23.27+.24

Simon Prop. Grp.,3.20,110.47+.21

Stoneridge 7.11 —.20

United Community Fin. 1.08+.11

Selected prices at 4 p.m. Monday. Provided by Stifel Nicolaus. Not to be construed as an offer or recommendation to buy or sell any security.