TOLEDO, Ohio — Gas prices in Toledo have dropped nearly 10 cents in the last week, marking four straight months of a consistent descent in price.
A gallon of gas costs, on average, $2.71 in Toledo as of Monday, according to a GasBuddy survey of 315 gas stations in Toledo. The price is also now 11.8 cents lower than it was a month ago.
The GasBuddy survey found the cheapest station in Toledo was priced at $2.53/gallon, while the most expensive was $2.99/gallon. Statewide, the range was $3.79/gallon to $2.08/gallon from most expensive to least 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 $3.03, a figure that also continues to see consistent lowering according to GasBuddy.
The average price of a gallon of gas in Toledo for Jan. 8 is the second lowest it has been on this date in previous years since 2021:
- Jan. 8, 2023: $3.22/gallon (U.S. average: $3.25)
- Jan. 8, 2022: $3.11/gallon (U.S. average: $3.30)
- Jan. 8, 2021: $2.26/gallon (U.S. average: $2.32)
"Sluggish gasoline demand has led to the national average easing again, and brings back the potential for the national average to drift under $3 per gallon for the first time since 2021," said Patrick De Haan, head of petroleum analysis at GasBuddy.
"With a record rise in gasoline inventories last week as demand was anemic during the holidays, motorists have provided the catalyst for falling prices. If demand remains weak, gasoline prices could fall further. In addition, refinery issues in California have also eased, which will soon cause prices to decline in California, Nevada and Arizona, providing momentum for a possible run at a $2.99 national average. However, the better it gets now, the more bumpy and sharp the rise could be ahead of the spring, as prices could start their rise of 35-85 cents per gallon around mid-February."
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