TOLEDO, Ohio — Gas prices in the Toledo area have skyrocketed nearly 26 cents over the last week, an analyst for GasBuddy says.
A gallon of gas costs, on average, $3.47 in Toledo as of Monday, according to a GasBuddy survey of 315 gas stations. Despite that, prices are now almost 6.5 cents lower than a month ago.
The GasBuddy survey found the cheapest station in Toledo was priced at $2.55/gallon, while the most expensive was $3.60/gallon. Statewide, the range was $2.55/gallon to $3.99/gallon from least expensive to most expensive.
Nationally, Toledo gas prices are similar to the rest of the country. In a survey of 150,000 gas stations across the U.S. the average price of a gallon of gas was $3.41, a figure that has dropped 18 cents from a month ago, according to GasBuddy.
The national average price of diesel fell 1.5 cents in the last week and stands at $3.73/gallon.
Although the average price of a gallon of gas in Toledo on June 17 has increased over the last four years, it took a dip in 2023 and stands 4 cents cheaper in 2024:
- June 17, 2023: $3.51/g (U.S. Average: $3.55/g)
- June 17, 2022: $5.03/g (U.S. Average: $4.99/g)
- June 17, 2021: $3.04/g (U.S. Average: $3.07/g)
- June 17, 2020: $2.10/g (U.S. Average: $2.11/g)
"Since the national average price of gasoline fell to its lowest June level since 2021 last week, we've seen the drop in prices take a break, with some states seeing a small rise over the last week. Thankfully, I expect this to be more like a short timeout, with an eventual return to falling gasoline prices in most states," said Patrick De Haan, head of petroleum analysis at GasBuddy.
"The decline in diesel prices continues, with the national average price of diesel now at its lowest level since January 2022. Both gasoline and diesel prices remain below their year-ago level, which is music to the ears of the Federal Reserve, as fuel prices are a significant component of the Consumer Price Index. Also factoring in gasoline demand that has been running a bit weaker than expected, market fundamentals look pretty good right now if you're a motorist."
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