Gasoline prices fall 30 cents last week

Gasoline price information

Average retail gasoline prices in Ohio have fallen 30.3 cents per gallon in the past week, averaging $2.35 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 12.8 cents per gallon in the last week to $2.47 a gallon, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Ohio during the past week, prices Sunday were 109.5 cents per gallon lower than the same day one year ago and are unchanged versus a month ago. The national average has decreased 19.5 cents per gallon during the last month and stands 96.4 cents per gallon lower than this day one year ago.

“Nationally, gas prices saw their largest weekly drop of the year,” said Patrick DeHaan, GasBuddy senior petroleum analyst. “Prices moved lower in all but one state, Utah, with plunges at the pump throughout the Great Lakes as a result of BP’s Whiting, Indiana, refinery coming back online.

“The national average now stands at its lowest point since April, a fitting way to close out the summer driving season with Labor Day approaching,” DeHaan added. “While oil prices rallied late last week, I don’t yet expect it to impact pump prices, as they still have some catching up to do with the drop in crude oil prices.”

Since June 30, oil prices have fallen 23 percent, while retail gasoline prices have fallen about half that amount, meaning that gasoline prices will move lower again this week, DeHaan said.

For a complete listing of current averages and other fuel price data, visit http://media.gasbuddy.com. For fuel news and alerts, follow @GasBuddyNews on Twitter.