Central Ohio price-cycling hike interrupts downward trend in gasoline prices
COLUMBUS, Ohio (WCMH) — Petroleum analysts say that despite the latest round of price-cycling hikes, central Ohio gas prices are expected to taper as the demand for fuel drops into the fall and winter seasons.
According to GasBuddy’s survey of 500 stations in and around Columbus, Ohio, gas prices increased 16.3 cents in the last week, erasing the previous week’s decline, to average out at $3.07 per gallon. The current price is 17 cents lower than four weeks ago as well as 3.8 cents lower than this time one year ago.
The cheapest gas station in the Columbus area was priced at $2.56 a gallon on Sunday, while the most expensive was $3.29, a difference of 73 cents per gallon. In Ohio, the average price of gas also jumped by 16.2 cents from $2.85 per gallon to $3.02 per gallon
Nationally, gas prices rose slightly by 2.2 cents per gallon to average out at $3.14. The price of diesel followed suit with a rise of 0.7 cents, settling in at $3.67 per gallon.
Barring any major setbacks due to weather or refinery issues in the Midwest, GasBuddy’s head of petroleum analysis Patrick De Haan says that prices throughout the county, including in Ohio, should drop below the $3 per gallon mark in future weeks.
“The national average saw a slight increase last week, primarily driven by states (Ohio, Florida, Michigan, and Maryland) that experienced price cycling just ahead of the switch back to winter gasoline,” said De Haan. “Now that much of the nation has begun the transition to cheaper winter gasoline and with driving demand seasonally tapering off as temperatures dip, gas prices face additional downward pressure. We're still on track to potentially see the national average fall below $3 per gallon for the first time in years this autumn.”