Gas prices decline for holiday travelers

BP gas station

(Cleveland) - Northeast Ohio gas prices dropped another six cents this week to an average of $2.536 per gallon, according to AAA East Central’s Gas Price Report.

The report indicates gas prices in the region remain volatile,  increasing, stabilizing and decreasing, throughout the Great Lakes and Central states. 

Heavy refinery maintenance this fall is cited as one the factors that has contributed to the year-over-year hefty price increase.

After nearly two months of straight declines, regional gasoline inventory had an impressive 1.3 million bbl build, according to Triple-A. 

Overall, inventory stands 2.5 million bbl below levels this time last year. However, ExxonMobil's Joliet refinery in Illinois is resuming operations following planned maintenance, which may help to alleviate the differential. 

Northeast Ohio Average Price - $2.536

Average price during the week of November 13, 2017  - $2.593

Average price during the week of November 21, 2016  - $2.074

(Photos by Getty Images) 

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