Gasoline prices in Ohio hovering around $4 a gallon

Associated Press

CLEVELAND

Ohio motorists are getting a sinking feeling as they pull up to the pumps this week. Gas prices are way up and now are hovering around $4 a gallon.

Rising oil prices amid fears about refinery problems in the Great Lakes have pushed pump prices up over the dreaded $4 mark at some stations across the state. Others are almost there.

According to auto club AAA, the state average for a gallon of regular gas was $3.93 Thursday, an increase of 9 cents from Wednesday and 27 cents higher than a week ago. Meanwhile, the national average Thursday was $3.63, up just 2 cents from a week ago.

The highest average Thursday in Ohio was $3.97 in the Columbus area.

Prices tend to be higher in the summer anyway because of increased demand and the switch from less-expensive winter-blend gas. Now there are other factors at work, too.

An analyst told The (Cleveland) Plain Dealer the supply of gasoline has been unstable in the Great Lakes region, where two large refineries are either partly or fully shut down for maintenance.

Ohio gets most of its gasoline from the Chicago spot market, which is known for dramatic price swings, according to AAA Ohio. Refineries in Witing, Ind., and Joliet, Ill., have been offline for maintenance recently, which has led to tight supplies. Last week, the region’s refining capacity dropped to a three-year low.

Restarting the refineries should ease supply concerns in the region, but there’s no way to tell how soon that could ease the price at the pump.

The highest recorded average price for a gallon of regular gas in Ohio was around $4.16 in May 2011, according to AAA.