TOLEDO, Ohio — Gas prices in the Toledo area have dropped nearly 14.5 cents over the last week, an analyst for GasBuddy says.
A gallon of gas costs, on average, $3.45 in Toledo as of Monday, according to a GasBuddy survey of 315 gas stations. Prices at the pump are nearly 1.5 cents higher than a month ago.
The GasBuddy survey found the cheapest station in Toledo was priced at $3.19/gallon, while the most expensive was $3.67/gallon. Statewide, the range was $3.03/gallon to $3.79/gallon from least expensive to most expensive.
"With oil prices plummeting due to new concerns over the U.S. economy after a poor jobs report, gasoline prices have seen downside in many states, with potential for more to join that trend this week as previous refinery disruptions in the Great Lakes region fade away and the restart process begins," said Patrick De Haan, head of petroleum analysis at GasBuddy.
Nationally, Toledo gas prices are relatively 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 fell 3.5 cents and stands at $3.44, a figure that increased 5 cents from a month ago, according to GasBuddy.
The national average price of diesel dropped by 2 cents in the last week and stands at $3.76/gallon.
"Diesel prices have also continued to drop, and while Tropical Storm Debby drops buckets of rain on Florida and the Southeast, it poses low risk to refineries or refined product pipelines, so the storm is not a major concern," said De Haan.
The average price of a gallon of gas in Toledo on Aug. 5 is significantly cheaper than in 2022 and is down 4 cents from 2023:
- Aug. 5, 2023: $3.44g (U.S. Average: $3.81/g)
- Aug. 5, 2022: $3.92/g (U.S. Average: $4.06/g)
- Aug. 5, 2021: $3.14/g (U.S. Average: $3.19/g)
- Aug. 5, 2020: $2.09/g (U.S. Average: $2.17/g)
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