Jamestown Gas Prices Hold Steady

Jamestown area gas prices stayed about the same this week at $3.85 cents a gallon, according to AAA East Central.

The national average price for regular unleaded gasoline is $3.65 per gallon. This time last year, consumers were paying 2 cents less at the pump ($3.63), and the national average was beginning to trend downward toward the summer low of $3.47 (July 7, 2013).

The price at the pump in 35 states has remained relatively stable (+/- 2 cents) over the past seven days, and only two states are posting fluctuations of more than a nickel, both to the downside: Kentucky (-6 cents), and Ohio (-12 cents). Motorists in 31 states are paying a year-over-year premium, and of this total more than half are paying an additional 10 cents or more per gallon, led by Pennsylvania (+25 cents), Nevada (+21 cents), South Carolina (+19 cents).

Market watchers continue to monitor the ongoing unrest in Libya and Ukraine, and its impact on global crude prices. Additionally, the Organization of the Petroleum Exporting Countries has a meeting scheduled for this week and the proceedings will be closely monitored to see if there are any indications that production levels will be adjusted in the near future. At the close of formal trading on the NYMEX on Monday, West Texas Intermediate crude oil settled $1.75 higher at $104.41 per barrel, which is the highest settlement since March 3.