TOLEDO, Ohio — Gas prices in Toledo are still trending downward, dropping another 2.6 cents a gallon last week, according to GasBuddy's daily survey of 315 stations in the city.
The average price for a gallon of gas in Toledo is $3.10, down 9.8 cents from a month ago. The cheapest gas in the city is $2.88, while the most expensive is $3.89.
The national average fell 2.4 cents a gallon last week for a price of $3.32. That figure is down 9 cents from a month ago.
GasBuddy Head of Petroleum Analysis Patrick De Haan said crude oil is priced about $13 below its 2021 peak and contributing to decreased prices at the pump.
"Omicron concerns continue to be the primary catalyst for the drop in gas prices across much of the country," he said. "While we've seen some anecdotal reports about the new variant, vaccine producers have yet to definitively state if current vaccines will still bring adequate protection against omicron - something that might be critical to limit severity and to avoid new shutdowns.
"With OPEC+ members still planning to boost oil production in January, we continue to see global oil production slowly rising. In addition, U.S. gasoline demand last week fell to the lowest level since October, which may limit oil's recent rebound and keep gas prices declining through the end of the year."
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