Gas prices rise, more increases are likely

VW independent staff/submitted information

Average gasoline prices in Ohio have risen 10.2 cents per gallon in the last week, averaging $3.15 per gallon on Monday, according to GasBuddy’s survey of 5,345 stations in Ohio. Prices in Ohio are 7.4 cents per gallon higher than a month ago and stand 19.5 cents per gallon lower than a year ago. The national average price of diesel has increased 16.1 cents in the last week and stands at $3.649 per gallon.

Experts who track the industry believe with events in the Middle East and with the July 4 holiday weekend fast approaching, more increases are on the horizon.

According to GasBuddy price reports, the cheapest station in Ohio was priced at $2.39 per gallon on Monday, while the most expensive was $4.49 per gallon, a substantial difference of $2.10 per gallon. As of Monday evening, pump prices in Van Wert ranged from $2.99 to $3.19 for self-serve regular.

The national average price of gasoline has risen 9.7 cents per gallon in the last week, averaging $3.18 per gallon on Monday. The national average is unchanged from a month ago and even with the most recent increase, the average prices is 23.3 cents per gallon lower than a year ago, according to GasBuddy data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.

“With Israel and Iran trading attacks over the past week, oil prices have continued to climb—and gasoline prices are following suit, rising at a pace we haven’t seen since last summer,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “Few pumps have been immune, with nearly all states seeing gas prices rise over the last week. Additionally, average diesel prices recorded their largest weekly jump since August 2023.”

“Now, with the U.S. launching attacks on Iran, oil prices are likely to continue trending higher,” he continued. “That said, I do not expect the apocalyptic spikes being circulated by some so-called influencers on social media— many of which are wildly inaccurate. For now, motorists should anticipate a continued steady climb in prices, with the national average likely to increase another 7 to 15 cents this week, while diesel could rise by 10 to 20 cents. These forecasts remain fluid and could shift quickly depending on global developments, so we encourage motorists to stay tuned to GasBuddy for the latest updates and insights.”

Historical gasoline prices in Ohio and the national average going back ten years:

June 23, 2024: $3.34/g (U.S. Average: $3.41/g)

June 23, 2023: $3.42/g (U.S. Average: $3.57/g)

June 23, 2022: $4.91/g (U.S. Average: $4.94/g)

June 23, 2021: $2.98/g (U.S. Average: $3.08/g)

June 23, 2020: $2.17/g (U.S. Average: $2.15/g)

June 23, 2019: $2.55/g (U.S. Average: $2.65/g)

June 23, 2018: $2.62/g (U.S. Average: $2.84/g)

June 23, 2017: $2.18/g (U.S. Average: $2.27/g)

June 23, 2016: $2.38/g (U.S. Average: $2.31/g)

June 23, 2015: $2.71/g (U.S. Average: $2.79/g)

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