Ohio gas prices fall 9.8 cents over week

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Average retail gasoline prices in Ohio have fallen 9.8 cents per gallon in the past week, averaging $2.22 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 4 cents per gallon in the last week to $2.33 per gallon, according to gasoline price website GasBuddy.com.
Including the change in gas prices in Ohio during the past week, prices Sunday were 46.6 cents per gallon lower than the same day one year ago and are 4.7 cents per gallon lower than a month ago. The national average has decreased seven-tenths of a cent per gallon during the last month and stands 5.8 cents per gallon lower than this day one year ago.

According to GasBuddy historical data, gasoline prices on June 12 in Ohio have ranged widely over the last five yea
rs: $2.69 per gallon in 2016, $2.85 per gallon in 2015, $3.83 per gallon in 2014, $3.88 per gallon in 2013, and $3.70 per gallon in 2012.

“While the national average fell 5 cents per g
allon in the last week, the bigger story is that 47 states saw average gas prices move lower in the last week, so this isn’t just a here and there trend, it’s almost everywhere,” said Patrick DeHaan, senior petroleum analyst for GasBuddy.

“Oil prices remain near six-month lows as fundamentals remain weak — supply remains high even in light of production cuts from OPEC while demand has been mild, not remarkable,” DeHaan added. “Today’s national average price for gasoline is the lowest for mid-June since 2005- not an easy record to attain.

“By all measures, gasoline prices this year have been exactly what most motorists seem to love — stable and cheap, two words that rarely have been synonymous with gas prices over the last decade,” DeHaan noted. “While many motorists are lured in to that false sense of security, smart motorists continue to shop around and find the best deal as the gas price spread between stations hits record levels, providing enough savings to pay for a snack or food item inside the station.”