TOLEDO, Ohio — Gas prices in the Toledo area have fallen 14 cents over the last week, an analyst for GasBuddy says.
A gallon of gas costs, on average, $3.34 in Toledo as of Monday, according to a GasBuddy survey of 315 gas stations. The price is also now 20 cents lower than it was a month ago.
The GasBuddy survey found the cheapest station in Toledo was priced at $3.14/gallon, while the most expensive was $3.69/gallon. Statewide, the range was $2.79/gallon to $4.45/gallon from least expensive to most expensive.
Nationally, Toledo gas prices are below 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 $3.62, a figure that has increased nearly 3 cents from a month ago, according to GasBuddy.
The national average price of diesel dropped 3.4 cents in the last week and stands at $3.94/gallon.
The average price of a gallon of gas in Toledo on May 6, 2024 is the lowest it has been on this date in three years:
- May 6, 2023: $3.46/g (U.S. Average: $3.50/g)
- May 6, 2022: $4.06/g (U.S. Average: $4.29/g)
- May 6, 2021: $2.86/g (U.S. Average: $2.95/g)
- May 6, 2020: $1.74/g (U.S. Average: $1.80/g)
"We've seen the national average fade slightly again as oil prices have cooled and our spring peak appears to be more confidently behind us," said Patrick De Haan, head of petroleum analysis at GasBuddy.
"While refinery utilization rates last week indicated that there is still some refinery maintenance work to be done, oil prices have helped put downward pressure on gasoline prices, with oil falling below $80 per barrel last week. In addition, a weaker than expected jobs report is adding to some concerns that gasoline demand could remain weak through the summer driving season, which is just a few weeks from beginning. With the seasonal factors behind us, looking ahead, we expect gasoline prices to continue cooling alongside diesel prices as we look forward to Memorial Day weekend."
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