AAA of the Miami Valley said Tuesday that it expects the national average gas price to reach the spring-time peak in late March or early April and fluctuate between $3.55 and $3.75 per gallon.
But locally, prices are expected to be the lowest the area has seen in three years, AAA added.
The increase will be due to seasonal refinery maintenance and the approaching switchover to producing summer-blend gasoline that is required by May 1.
The average price for a gallon of gas in the Miami Valley area today is $3.57, five cents higher than the national average. Ohio is among the top ten for the most expensive average gas prices, AAA said.
AAA said today’s price is seven cents higher than a week ago, 16 cents higher than a month ago, but still well below the highest ever recorded Dayton/Springfield area average of $4.17 that occurred on May 4, 2011.
AAA highlighted the following for potential influence on prices:
- Geopolitical tensions with Russia.
- Worse than expected economic data from China.
- An announced test sale of 5 million barrels from the Strategic Petroleum Reserve.
- The anticipated increase of domestic crude oil supplies resulting in West Texas Intermediate crude oil prices settling below $100 per barrel last Wednesday, for the first time in more than a month.