Ohio gasoline prices again decrease

Gasoline price information

Average retail gasoline prices in Ohio have fallen 10.4 cents per gallon in the past week, averaging $1.88 a 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 2.3 cents per gallon in the last week to $2.02 a gallon, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Ohio during the past week, prices yesterday were 139.5 cents per gallon lower than the same day one year ago and are 19.4 cents per gallon lower than a month ago. The national average has decreased 27.1 cents per gallon during the last month and stands 125.8 cents per gallon lower than this day one year ago.

“Welcome back, $1.99! This is the week that we’ll see the return to a national average of $1.99/gal- but motorists shouldn’t expect it to last very long,” said Patrick DeHaan, senior petroleum analyst with GasBuddy. “Refineries have been processing less crude oil and thus producing less gasoline, which will contribute to a soft bottoming out of the national average before a small recovery back in the very low $2’s.

“And while this year will still feature far lower prices than last year, we’ll be subject to a seasonal lift in gasoline prices as refineries slow production to do maintenance and to make the progressive switch over to cleaner burning summer gasoline,” he added. “Last year’s lift began the second week of February and saw the upward trend last until the beginning of May, during which, the national average saw a rise of 35 cents a gallon. This year we’re expecting a similar rise, though the previous few years the rise has averaged 30-65 cents per gallon.

On the diesel side of things, price drops have continued to outpace drops in gasoline prices,” DeHaan noted.

“Diesel prices dropped an average seven cents per gallon in the last week to $2.835 a gallon,” he said. “By the start of February, diesel will fall under $2.80 per gallon, and by Valentine’s Day, they’ll fall to $2.65 a gallon, a sweetheart deal for consumers and trucking companies that have seen diesel prices lag behind gasoline prices.”

Some quick gasoline price statistics as of Monday morning:

Missouri has the lowest state average in the country; at $1.79, it is one of 27 states averaging under $2 per gallon.

There is only one state averaging above $3 per gallon today: Hawaii ($3.27).

In the lower 48 states, California has the highest average at $2.45, followed by New York at $2.42.

Every state has a lower average today than the same day last year. Ohio, at $1.89 today, has seen the biggest drop from the same day last year, down $1.40 from its January 26, 2014, average.

Only one state has an average less than $1 lower than last year: Hawaii (76 cents lower).

There are only three states that don’t have a single station reporting a price under $2 a gallon:

• Vermont (lowest station reporting at $2.05)
• Alaska (lowest station reporting at $2.29)
• Hawaii (lowest station reporting at $2.73)

About GasBuddy.com

GasBuddy is the premiere source for real-time local gas prices. Founded in 2000, GasBuddy.com developed as an initiative to provide consumers access to local, current gas prices. Through the GasBuddy.com website and the free GasBuddy mobile app, users can find and share gas prices with fellow drivers, saving big money at the pump.