Gas Prices Up in Ohio Following OPEC Decision

OHIO - Gas prices are on their way up after an announcement from Organization of Petroleum Exporting Countries (OPEC) that it would decrease its production, leading to a steady increase in prices. Nationally, prices have gone up five cents versus last week. In Ohio, prices are up close to 15 cents over the past week.

Last week, the state's average gas price was $2.025 for regular gas. Today, gas prices are averaging $2.16, according to travel organization AAA. Those numbers are all up significantly from last year, when, at this time, gas cost $1.91.

The organization also tracks gas price average for Ohio's metro areas. Cleveland has certainly been impacted by an increase in gas prices. AAA tracks Cleveland as part of the Cleveland-Elyria-Lorain region. Gas in that area has gone from $2.04 a week ago to $2.13 today.

For comparison, regular gas in Akron is selling for about $2.10 on average. In Columbus, gas costs $2.18. Cincinnati residents are paying even more at $2.21.

OPEC decided last week to cut production of oil by 1.2 million barrels a day, the Wall Street Journal reports. That decision will go into effect January 2017 but the markets are already reacting negatively.

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