TOLEDO, Ohio — Gas prices in the Toledo area have increased more than 6.5 cents over the last week, an analyst for GasBuddy says.
A gallon of gas costs, on average, $3.52 in Toledo as of Monday, according to a GasBuddy survey of 315 gas stations. Prices at the pump are now 20 cents higher than a month ago.
The GasBuddy survey found the cheapest station in Toledo was priced at $3.16/gallon, while the most expensive was $3.60/gallon. Statewide, the range was $2.99/gallon to $3.99/gallon from least expensive to most expensive.
Nationally, Toledo gas prices are slightly higher than 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 decreased more than 11.5 cents from a month ago, according to GasBuddy.
"As long as we can avoid a major hurricane threatening refineries in the Gulf region, I believe we could see declines continue into this week, with the national average potentially dipping to its lowest level of the summer," said Patrick De Haan, head of petroleum analysis at GasBuddy. "However, should economic data come in better than expected, there still could be a short-lived rally."
The national average price of diesel dropped 3 cents in the last week and now stands at $3.72/gallon.
"As summer driving season comes to a gradual close, we continue to see gasoline prices declining in most of the country as demand remains muted. Incredibly, the drop has also caused diesel fuel prices to crumble to their lowest level since before Russia's invasion of Ukraine," said Haan.
Although the average price of a gallon of gas in Toledo on Aug. 12 is significantly cheaper than it was in 2022, it stands 11 cents higher now than in 2023:
- Aug. 12, 2023: $3.65/g (U.S. Average: $3.83/g)
- Aug. 12, 2022: $3.78/g (U.S. Average: $3.94/g)
- Aug. 12, 2021: $3.07/g (U.S. Average: $3.18/g)
- Aug. 12, 2020: $2.02/g (U.S. Average: $2.18/g)
"While some states may also see gas prices rise to routine price cycling, primarily in the Great Lakes and Florida, prices across the board remain lower in every state compared to a year ago," said Haan.
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