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Gas prices in Valley shoot back up
By Karl Henkel
YOUNGSTOWN
It was fun while it lasted.
A brief but welcoming couple of weeks that saw gas prices in the Mahoning Valley fall into the $3.20 to $3.35 range ended abruptly Thursday, as prices skyrocketed in a matter of hours.
The low price for regular-grade gas at approximately 9 a.m. Thursday was $3.21 in McDonald, according to online and mobile gas-price finder Gas Buddy. The high price was $3.39 in multiple locations.
By late Thursday afternoon, the range had increased. The low price was $3.32 in Youngstown and the high ballooned to $3.79 in Girard.
Gas Buddy said Thursday that it expects prices in Ohio to soften at about $3.50 per gallon on average.
For those traveling to nearby states, the news isn’t much better: Indiana’s prices likely will mirror Ohio’s, and Michigan and Kentucky may surpass $3.60.
“Sometimes when prices fall too fast, there’s a correction that takes place,” said Bevi Powell, director of communications for AAA East Central, who said that gas prices throughout Ohio increased 6 cents Thursday.
She said on Tuesday, Ohio had the second-lowest gas prices in the nation.
“What we’re probably seeing now is a correction in the market,” she said.
One year ago, gas was $2.75 per gallon.
According to Gas Buddy, it’s the first time gas prices have increased around the Fourth of July since 2008.
President Barack Obama last week released 30 million barrels from the U.S. Strategic Petroleum Reserve with the intention of increasing supplies for the high- demand travel weekend.
The move was criticized by Republicans, who said it put the country in a compromising position in the event of a foreign crisis or natural disaster.