US – National Gas prices have risen for the eighth straight week rising more than 7 cents a gallon over the last week with a national average of 2.72 dollars a gallon.
A large jump in gas prices is from the shutdown of Texas during the bitter cold that slowed oil movements in the state.
“Gas prices continued to surge last week following cold-weather related shutdowns in Texas, but going forward, the impact from the cold has likely run its course. However, several other factors will rise in their influence on gas prices again, including the fact that gasoline demand continues up steam,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “According to Pay with GasBuddy data, last week’s total gasoline demand soared to the highest level since the pandemic began as COVD-19 cases continue to drop and Americans are filling up more. On the supply side, the number of oil rigs active in the U.S. stands nearly 50% lower than a year ago, which is a large factor driving prices up. To put it simply, demand is recovering much much faster than oil production levels, which is why oil prices have soared. This week, OPEC will be meeting to hopefully increase oil production to temper the rise in prices, but will they increase oil production enough to match the growing appetite of a global economy that’s seen oil demand jump? We’ll have to wait and see.”
Gas in the Pickaway county area on March 1, 2021 is about 2.75 per gallon, up from average price during the week of February 1, 2021 $2.370
Cheapest place to find gas in Pickaway county is Sunoco in Stoutsville at 2.64 per gallon.
