Gas Prices in Cleveland Area Soar Versus Last Year: AAA

CLEVELAND, OH - Gas prices in the Cleveland-Akron-Medina area have jumped considerably over a 12-month span. This week, AAA predicts that gas prices will average about $2.23, continuing the steady climb in fuel prices for Ohioans.

Prices have been rising steadily since Organization of the Petroleum Exporting Countries (OPEC) announced it would increase its per-barrel cost. Last week, the average cost for a gallon of gas was $2.20. It's up three cents in a week.

Perhaps more horrifying is comparing this week's prices versus Dec. 19, 2015. Last year, gas costs were down to $1.85 a gallon. With prices now averaging about $2.23 a gallon, costs have gone up nearly 40 cents in a 12-month span.

Gas prices have surged since the OPEC announced in November plans to cut production of oil by 1.2 million barrels a day for six months. The next OPEC Ordinary Meeting is scheduled for May 25, 2017 in Vienna, Austria. That's an important date, because the group could decide to extend the production cut another six months - which in turn would likely mean another six months of high gas prices.

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