Gas prices fall, but may rise again soon

Independent staff/submitted information

Average gasoline prices in Ohio have fallen 17.7 cents per gallon in the last week, averaging $3.67 per gallon on Sunday, according to GasBuddy’s survey of 5,345 stations in Ohio. Prices in Ohio are 4.1 cents per gallon lower than a month ago and stand 60.2 cents per gallon higher than a year ago. The national average price of diesel has decreased 11.7 cents compared to a week ago and stands at $5.50 per gallon. Local gasoline prices ranged from $3.44 to $3.99 on Monday.

According to GasBuddy price reports, the cheapest station in Ohio was priced at $3.18 a gallon on Sunday while the most expensive was $5.59 per gallon, a difference of $2.41 a gallon. The lowest price in the state on Sunday was $3.18 per gallon, while the highest was $5.59 a gallon, a difference of $2.41 per gallon.

The national average price of gasoline has fallen 9.4 cents per gallon in the last week, averaging $3.97 per gallon on Monday. The national average is up 3.9 cents per gallon from a month ago and stands 87.4 cents per gallon higher 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.

“Average gasoline prices declined in 48 states over the last week, while diesel prices fell in 46 states, offering a welcome break at pumps, with the national average price of gasoline dipping below the $4 per gallon mark over the weekend,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “However, that relief may prove fleeting. Oil prices surged in Sunday night trading after Iran re-closed the Strait of Hormuz and President Trump signaled further escalation if Tehran does not come to an agreement. 

“With global oil flows remaining at risk, renewed volatility is taking hold, and the continued back-and-forth is making any lasting resolution increasingly fragile,” DeHaan added. “As a result, gasoline prices are likely to rise again in the days ahead, with diesel expected to follow if disruptions persist, and many of the states that exhibit price cycling could see increases in the next 24-48 hours.”
GasBuddy®, a PDI Technologies company, is North America’s trusted fuel savings platform, helping consumers fuel up for less for over 25 years.