Ohio gasoline prices decline last week

Ohio gasoline price information

Average retail gasoline prices in Ohio have fallen 11.3 cents per gallon in the past week, averaging $3.40 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 increased 2.3 cents per gallon in the last week to $3.49 a gallon, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Ohio during the past week, prices Sunday were 10.0 cents per gallon lower than the same day one year ago and 7.0 cents per gallon lower than a month ago. The national average has decreased 8.9 cents per gallon during the last month and stands 4.2 cents per gallon lower than this day one year ago.

“The national average has now dropped to its lowest level since February, and with the end of the summer driving season nearing, we’ll likely see gas prices continuing the downward trend,” said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. “Oil prices last week dropped to $95 a barrel briefly before rising the next day back to $97 per barrel, but the important factor is that prices remain under triple digits.

“For motorists, we’re nearing the point that gasoline demand drops — after Labor Day — and also the upcoming switch back to cheaper winter gasoline will also put downward pressure on prices in mid-September,” DeHaan added. “While a short term increase in gasoline prices is never out of the question, as we grow nearer to September, the likelihood of a spike decreases.

DeHaan noted that it won’t be long before a few cities will see averages under $3 a gallon, with areas of Tennessee and South Carolina already getting close to that mark.

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 which has been downloaded over 25 million times to help motorists find the lowest gasoline prices in their area.