Home contracts increase in Ohio

Home contracts increase in Ohio

COLUMBUS

The Ohio Association of Realtors reports the number of single-family homes and condominiums put under agreement in November increased 5.1 percent from the level posted during the month a year ago. The rate of purchase contracts signed in November increased 13.3 percent from the pace recorded in October 2014.

Chesapeake OKs bigger settlement

SCRANTON, Pa.

A subsidiary of energy giant Chesapeake Energy is increasing the amount it will pay to settle a federal lawsuit over natural-gas drilling royalties for Pennsylvania landowners.

Chesapeake is increasing the amount from $7.5 million to $11 million to settle the class-action lawsuit claiming it wrongly withheld too much in post-production fees from royalty checks.

The proposal was filed Dec. 18 in federal court. The money would go to thousands of northeastern Pennsylvania leaseholders.

The earlier settlement of $7.5 million had been in limbo after other leaseholders objected.

Under the revised agreement, leaseholders would be paid 55 percent of post-production costs taken until June 1, 2014. The earlier agreement cut off reimbursements Sept. 1, 2013. The settlement is subject to a judge’s approval.

VW recalls 38,000 cars due to fire risk

NEW YORK

The Volkswagen Group of America is recalling about 38,000 cars because a fuel leak in the engine may cause a fire.

The automaker said no injuries or accidents have been reported.

The recall covers 2014 to 2015 model years of the Volkswagen Beetle, Jetta, Passat and 2015 models of the Golf and GTI.

The National Highway Traffic Safety Administration said drivers might smell gas inside their vehicles. Volkswagen is telling owners who smell gas or see the electronic power-control warning light go on to immediately bring the vehicle to a Volkswagen dealer to have the fuel system inspected.

Volkswagen said that it would notify owners of the recalled cars. There is no cost to owners for the repairs.

Ohio’s average price for gas dips below $2

HAMILTON, Ohio

The average cost of gas in Ohio has dipped below $2 per gallon for the first time in more than five years. The average for a gallon of regular gas fell to $1.99 in Wednesday’s survey from auto club AAA, the Oil Price Information Service and WEX Inc.

Ohio AAA spokeswoman Kimberly Schwind said that average hasn’t been below $2 since April 28, 2009, when it was $1.98. She said back then, the recession was a key factor.

This time, Schwind said, prices have been dropping for months because of an oversupply of crude oil worldwide. She said there’s also a seasonal element, as gas prices tend to be lower during winter.

Vindicator staff/wire reports