Gas prices continue to fall in Mahoning Valley
Gas prices in the Mahoning Valley are continuing to fall with the average price in northeast Ohio being $2.873 per gallon as of March 3.
This is 15 cents lower than last week's average of $3.020 per gallon and about 48 cents lower than the average price this time last year, which was $3.350 per gallon.
Local averages include $2.805 for Youngstown and $2.712 for Niles. The national average is $3.09 per gallon.
The Energy Information Administration (EIA) says gasoline supply increased from 247.9 million barrels to 248.3 million barrels and demand increased from 8.23 million barrels per day to 8.45 million.
Meanwhile, gasoline production decreased last week averaging 9.2 million barrels per day.
The price of a barrel of gasoline dropped 31 cents to $68.62 per barrel. The EIA reports that crude oil inventories decreased by 2.3 million barrels from the previous week.
