Northeast Ohio gas prices on the upswing - 19 Action News|Cleveland, OH|News, Weather, Sports

Northeast Ohio gas prices on the upswing

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(WOIO) -

Northeast Ohio gas prices jumped 16 cents this week to $3.54 per gallon. Prices around the country have increased significantly due to escalating oil prices, refinery issues and preparations for the switchover to summer blends.

Tuesday's national average price for a gallon of regular unleaded gasoline is $3.53. This price is 17 cents more expensive than one week ago, 23 cents more than one month ago and a nickel more than the average price one year ago. Today's price is the highest on record for this calendar day.

While prices in every state have increased over the last week, the increase was most dramatic in the Midwest, California and Colorado. These regions have seen the most dramatic price increases because of higher regional crude prices and production concerns as refineries prepare to make the conversion to making summer-blend gasoline.

Despite dramatic regional surges, the most expensive gasoline in the continental U.S. is: Calif. ($3.91), N.Y. ($3.87), Conn. ($3.85), Vt. ($3.72) and Maine ($3.71). The cheapest prices remain in the Mountain States: Wyo. ($2.94), Mont. ($3.04), Utah ($3.13), N.M. ($3.16) and Colo. ($3.17).

At Monday's close of formal trading on the NYMEX, the price of West Texas Intermediate (WTI) settled down $1.60 at $96.17 per barrel. While prices moved lower today, WTI, the traditional U.S. benchmark product, traded last week at its most expensive level since September 14.

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