Drivers are finding gas prices that have remained high, but stable in the past week.
The average price of a gallon of gasoline at local stations was $4.73, down slightly from $4.76 per gallon a week ago.
Buckeye prices leading into the weekend were slightly higher than the state average of $4.69, and far higher than the national average of $4.15.
The national average price of gasoline rose 7 cents over the past week, according to data from GasBuddy, which tracks fuel prices across more than 150,000 stations nationwide.
The increase marks a 5.7-cent rise compared to a month ago and puts prices nearly 94 cents higher than this time last year.
In contrast, diesel prices moved in the opposite direction, falling 9.2 cents over the same period to an average of $5.408 per gallon, creating a temporary split in fuel price trends.
Industry analysts caution that this divergence may not last long.
Patrick De Haan, GasBuddy’s head of petroleum analysis, noted that gasoline prices increased in 39 states and are likely to continue rising.
He pointed to renewed geopolitical tensions and the breakdown of negotiations between the United States and Iran as key factors driving oil prices upward.
“Gasoline prices are set to rise further this week, with diesel expected to follow,” De Haan said, adding that several inland regions—including the Great Lakes and Plains—could soon see prices reach their highest levels since 2022.
Oil Prices Surge on Supply Concerns
Global oil markets have reversed recent declines, climbing sharply amid concerns about potential supply disruptions. The collapse of U.S.-Iran talks and continued restrictions on Iranian exports have heightened uncertainty, prompting traders to factor in increased risks.
As of early Monday trading, West Texas Intermediate (WTI) crude rose to $95.94 per barrel, up from $88.83 a week earlier. Brent crude also climbed, reaching $106.98 per barrel compared to $102.01 the previous week.
Analysts say the gains reflect a growing “risk premium” as markets react to the possibility of prolonged geopolitical instability. Giovanni Staunovo, a commodities analyst at UBS, noted that restricted flow through key transit routes and shifting demand—particularly from Asian refineries seeking alternative supplies—are contributing to higher prices. U.S. crude exports may have reached a record high as a result.
Supply Levels Show Mixed Signals
The latest Weekly Petroleum Status Report from the U.S. Energy Information Administration offers a mixed picture of domestic supply. For the week ending April 17, U.S. crude inventories increased by 1.9 million barrels and remain about 3% above seasonal averages.
However, fuel inventories told a different story. Gasoline stocks dropped by 4.6 million barrels, dipping slightly below the five-year average, while distillate inventories—including diesel—fell by 3.4 million barrels and are now roughly 8% below typical levels for this time of year.
Meanwhile, refinery utilization edged down to 89.1%, and implied gasoline demand—a key measure of consumption—declined slightly to 9.055 million barrels per day.
