TOLEDO, Ohio — Gas prices in Toledo have dropped close to 14 cents in the last week after weeks of inflation at the pump.
A gallon of gas costs, on average, $3.16 in Toledo as of Tuesday, according to a GasBuddy survey of 315 gas stations in Toledo. The price is also now 17.8 cents higher than it was a month ago.
The GasBuddy survey found the cheapest station in Toledo was priced at $2.96/gallon, while the most expensive was $3.35/gallon. Statewide, the range was $2.71/gallon to $3.99/gallon from least expensive to most expensive.
Nationally, Toledo gas prices are well below the rest of the country. In a survey of 150,000 gas stations cross the U.S. the average price of a gallon of gas was $3.24, a figure that has increased 13 cents from a month ago, according to GasBuddy.
The average price of a gallon of gas in Toledo for Feb. 26 is the second lowest it has been on this date in previous years since 2021:
- Feb. 26, 2023: $3.08/gallon (national average: $3.33/gallon)
- Feb. 26, 2022: $3.34/gallon (national average: $3.59/gallon)
- Feb. 26, 2021: $2.74/gallon (national average: $2.71/gallon)
"Motorists have finally seen a bit of a break in the recent rise in the national average, with more states seeing drops than increases in the last week. While the pause has certainly been nice, this is more like a rain delay than it is a 7th inning strech," said Patrick De Haan, head of petroleum analysis at GasBuddy.
"It's likely only a matter of time before we see the rise re-engage and prices start to head higher, but we'll take any break that we can. Oil prices have shown some signs of struggling last week after coming within arms reach of $80 per barrel before falling closer to $76, but all eyes are on refiners as utilization remained seasonally weak, around 80% of capacity, meaning there's less gasoline and diesel being produced. That's why it's just a matter of time before prices collide with rising demand and start to accelerate again."
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