Gasoline prices near sub-$3/gal. levels

Gasoline price information

Average retail gasoline prices in Ohio have fallen 14.3 cents per gallon in the past week, averaging $3.07 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 5.4 cents per gallon in the last week to $3.20 a gallon, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Ohio during the past week, prices Sunday were 32.7 cents per gallon lower than the same day one year ago and are 24.4 cents per gallon lower than a month ago. The national average has decreased 17.4 cents per gallon during the last month and stands 26.7 cents per gallon lower than this day one year ago.

“Gas prices across many communities are now the lowest since they’ve been since the Libyan crisis in February of 2011,” said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. “Nearly 15 percent of all stations in the U.S. are now selling gasoline under the psychologically important $3 a gallon level.

“Last year on this date saw just 1 percent of stations selling under that level, so motorists aren’t doing too shabby,” DeHaan added.

States that saw the largest declines last week were Montana, Ohio, and Indiana, all where prices declined at least 15 cents per gallon. Several stations in Tulsa, Okla., which features the cheapest gas in the U.S., are selling at a mere $2.45 a gallon, a number so low that had people said that just six weeks ago, motorists would have been shaking their heads in disbelief.

Prices nationally could drop to as little as $3.05 a gallon by Christmas, DeHaan said.

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