Ohio Gas Prices Drop To Lowest Point In Year

CLEVELAND, OH — Gas prices across the nation have dropped over the past week, due to unexpectedly low demand for gas and unanticipated increases in fuel production, travel organization AAA says. The price of a gallon of regular has dropped nearly 11 cents in Ohio over the last seven days.

With the national gas price sitting at $2.34 on average, prices are cheaper now than they were a year ago. In 46 states, drivers are paying 3 cents less at the pump than a week ago.

A series of unusual factors led to the national price drop. AAA says there was a build-up of crude oil, high production runs of gasoline, an increase in gasoline stock, and a drop in demand. While the current prices are unseasonably low, they are unlikely to drop much further.

In Ohio, the average cost of a gallon of regular has fallen 11 cents to $2.21 on average, AAA says. A year ago, gas prices in the Buckeye State were higher, with a gallon of regular costing $2.68 on average.

Prices are even lower in the Greater Cleveland area, though not by much. The average cost of a gallon of regular in the region will cost $2.20 for driver. A week ago, the average cost of a gallon of regular was $2.26.

From a national standpoint, Ohio has seen the largest difference in average prices over the course of a year. From June 2016 to June 2017, prices have dropped 46 cents for a gallon of regular. Other Midwestern states have seen similar drops: Michigan has dropped 36 cents in that same time span, Indiana plummeted 41 cents, and Illinois dropped 33 cents.

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