Ohio gasoline prices increase last week

Submitted information

Average retail gasoline prices in Ohio have risen 6.2 cents per gallon in the past week, averaging $2.09 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 0.5 cents per gallon in the last week to $2.21 per gallon, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Ohio during the past week, prices Sunday were 13.5 cents per gallon lower than the same day one year ago and are 21.5 cents per gallon lower than a month ago. The national average has decreased 5.2 cents per gallon during the last month and stands 1.1 cents per gallon lower than this day one year ago.

According to GasBuddy historical data, gasoline prices on November 7 in Ohio have ranged widely over the last five years: $2.23 per gallon in 2015, $2.87 per gallon in 2014, $3.16 per gallon in 2013, $3.36 per gallon in 2012 and $3.25 per gallon in 2011.

“If there’s one thing to be excited about for November it’s that gas prices in the last five of them have not risen nationally,” said Patrick DeHaan, senior petroleum analyst for GasBuddy.com. “Better yet, over the same timeframe, gas prices nationally have averaged a modest twelve cent decline from start to finish.

“And while there may be more excitement as America heads to the polls this week, it’s important to dispel the myth: presidential elections do not affect gas prices,” he said.

“Whomever is our next commander-in-chief, we could see a change to previous energy policy which could have a negligible impact on gasoline prices, but more focus will be on OPEC’s coming decision to follow through on cutting oil output,” DeHaan added. “Skepticism that OPEC won’t agree to a cut in production continues to prevail, with West Texas Intermediate crude oil closing last week at $44.07 per barrel, the lowest since September 20.”