Ohio gas prices fall nearly 10 cents/gal.

VW independent/submitted information

Average retail gasoline prices in Ohio have fallen 9.2 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, which has fallen 3.4 cents per gallon in the last week to $2.23 per gallon, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Ohio during the past week, prices Sunday were 52.2 cents per gallon lower than the same day one year ago and are 61.5 cents per gallon lower than a month ago. The national average has decreased 15.7 cents per gallon during the last month and stands 53.2 cents per gallon lower than this day one year ago.

According to GasBuddy historical data, gasoline prices on July 11 in Ohio have ranged widely over the last five years: $2.61 per gallon in 2015, $3.50 per gallon in 2014, $3.51 per gallon in 2013, $3.45 per gallon in 2012 and $3.57 per gallon in 2011.

“Even an uptick in demand for gasoline during the Fourth of July weekend couldn’t slow falling retail gasoline prices,” said Will Speer, senior petroleum analyst for GasBuddy. “The average retail gasoline price for the United States has dropped for 26 consecutive days, where it now sits at $2.23 per gallon.

This translates to a 16-cent drop in gas prices since the streak started, Speer noted. The falling gas prices have been supported by the price of West Texas Intermediate crude losing 7.3 percent of its value in one week’s time.

“As the European Union stability weighs on investor’s minds, states like Ohio and Michigan have been able to take advantage of lower crude prices and improved refinery utilization in the region by posting a nation-leading 10 cent per gallon average decline in gas prices in one week,” he added.