Gasoline prices continue downward trend

Gasoline price news

Average retail gasoline prices in Ohio have fallen 10.4 cents per gallon in the past week, averaging $3.43 per gallon on Sunday, according to GasBuddy’s daily survey of 5,345 gas outlets in Ohio. This compares with the national average that has fallen 2.7 cents per gallon in the last week to $3.65 a gallon, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Ohio during the past week, prices yesterday were 2.8 cents per gallon lower than the same day one year ago and are 12.9 cents per gallon higher than a month ago. The national average has increased 14.0 cents per gallon during the last month and stands 15.0 cents per gallon higher than this day one year ago.

“After an impressive run that saw the national average begin to approach its springtime high, it appears prices have plateaued — at least for now,” said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. “Oil prices appear to be taking a breather, but with the peak of hurricane season approaching, a continued upward trajectory in gasoline prices is certainly possible, should we see a major storm take aim for the Gulf.

“Crude inventories have also declined four consecutive weeks, and large decreases in crude inventories in the near future may be cause for rising oil prices as well,” DeHaan added.

About GasBuddy

GasBuddy operates OhioGasPrices.com and over 250 similar websites that track gasoline prices at over 140,000 gasoline stations in the United States and Canada. In addition, GasBuddy offers a free smartphone app that has been downloaded over 25 million times to help motorists find the lowest gasoline prices in their area.