TOLEDO, Ohio — Gas prices in the Toledo area have increased 26.5 cents over the last week, an analyst for GasBuddy says.
A gallon of gas costs, on average, $2.95 in Toledo as of Monday, according to a GasBuddy survey of 315 gas stations. Prices at the pump are now about 9 cents lower than a month ago.
The GasBuddy survey found the cheapest station in Toledo was priced at $2.42/gallon, while the most expensive was $3.19/gallon. Statewide, the range was $2.20/gallon to $3.59/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 $3.05, a figure that is down nearly 12 cents from last month, according to GasBuddy.
"While much of the attention this week will be on the election and how it could potentially change the trajectory of the nation, gasoline prices are likely to be a gift to the next president, staying much lower than in previous years when COVID and Russia's war on Ukraine caused a surge that’s unlikely to repeat, no matter who wins the election," said Patrick De Haan, head of petroleum analysis at GasBuddy.
The national average price of diesel dropped 1 cent in the last week and now stands at $3.52/gallon.
Although the average price of a gallon of gas in Toledo on Nov. 4 is the lowest its been in the last three years, it's significantly higher than it was in 2020.
- Nov. 4, 2023: $3.08/g (U.S. Average: $3.40/g)
- Nov. 4, 2022: $3.87/g (U.S. Average: $3.79/g)
- Nov. 4, 2021: $3.22/g (U.S. Average: $3.41/g)
- Nov. 4, 2020: $1.92/g (U.S. Average: $2.11/g)
"For now, Americans can expect the downward trend to continue in most states, while other states have seen prices jump temporarily due to a behavior we track called price cycling, said De Haan. "We should see the number of states with sub-$3-per-gallon prices grow as we get closer to Thanksgiving."
