OH sees cheaper prices for Fourth of July

AAA predicts lower gas prices will cause increase in travelers for holiday weekend

AAA Michigan surveys daily fuel prices at 2,800 gas stations across the state.

Thanks to lower gas prices, AAA predicts Virginia roads will be busier this Fourth of July than they've been in 16 years. The auto club notes the Great Lakes region is finally experiencing some price stability, and Michigan's price drop over the past week and the last month is the second-largest in the nation.

Like much of Midwest, some of those who fill up in OH are seeing gas prices below $2 per gallon.

According to gasbuddy.com, Ohio's prices average around $1.95 per gallon. One reason: a report on Thursday by the U.S. Energy Information Administration that drilling activity in the United States dropped by two rigs - the first pullback since January. But there are reasons prices might not go much lower, however. "Oil prices have rebounded off the previous $42 per barrel low, and now stand near $45 per barrel".

Sterling surges, FTSE falls on Carney rate hike signal
Sterling also rose by nearly a cent against the dollar, hitting a five-week high of $1.2936 to the pound. Support is at the previous high of 1.2820.

A deal reached in December to cut production among the Organization of Petroleum Exporting Countries has not been enough to push prices higher.

On Monday, global oil prices rallied back to $49 a barrel.

Meanwhile, the per-gallon price in Broward County on Monday was $2.22, 5 cents less than a week earlier. The highest was about $2.35 in the Ann Arbor area. "It is just a matter of time before the national average bottoms out for the short-term".

Just an hour's drive west, Ohio's average gasoline price is $2.09 - an 18 percent discount off Pittsburgh-area prices. That's about 7 cents less than at the same point past year.

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