Clare County Review & Marion Press News

Gas prices keep dropping

By John Raffel

MARION – Osceola County gas prices remain among the lowest in the state, according to AAA.
The average price per gallon in Osceola County is $3.279.
This compares to the other area counties with Mecosta County at $3.339; Wexford County a $3.378 per gallon. Missaukee at $3.345. Clare county at $3.295; and Isabella County at $3.299.
The national average is $3.374. The state average is $3.309 as compared to $3.620 a year ago, and $3.432 a month ago.
The national average for a gallon of gas fell three cents since last week to $3.39, AAA said. The main reason is the oil price, which fell into the mid $70s per barrel, nearly $5 cheaper than a week ago. 
“The cost for oil accounts for 55 percent of what we pay at the pump,” said Andrew Gross, AAA spokesperson, in a statement “so higher or lower oil costs will play a major role in the price we pay when fuel-ing up.” 
According to new data from the Energy Information Administration (EIA), gas demand increased slightly from 8.27 million barrels per day to 8.91 million b/d last week. Meanwhile, total domestic gasoline stocks decreased by 1.8 million bbl to 240.1 million bbl last week. However, fluctuating oil prices have contributed to pushing pump prices lower. But if gas demand keeps rising amid tightening domestic stocks, drivers may see an end to future pump price drops, AAA said. 

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