Gas Prices Hold At $3.85 Per Gallon

Jamestown area gas prices stayed about the same this week at $3.85 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.