TOLEDO, Ohio — Gas prices in Toledo fell this week after three weeks of increased prices.
The average price of gas in the city stands at $3.87/g, according to GasBuddy's daily survey of 315 stations in the city. This is a decrease of 7.5 cents after three weeks of increased prices; for three weeks, gas prices increased nearly 50 cents in the wake of the BP Refinery fire and the effects of Hurricane Ian.
Gas prices in Toledo are 45.5 cents per gallon higher than a month ago and stand 63.9 cents per gallon higher than a year ago.
The national average price of diesel increased 18.7 cents in the last week and stands at $5.06 per gallon.
"After a sharp rise in the national average over the last few weeks, we've seen an abrupt, yet expected decline as refinery issues have eased in the West and Great Lakes, overpowering some increases elsewhere. Though at the same time, diesel prices have soared," Patrick De Haan, head of petroleum analysis at GasBuddy said. "We'll see a continued sharp drop in gas prices on the West Coast, including areas like Las Vegas and Phoenix, which are supplied by refiners in California, as refinery outages have been addressed."
De Haan addressed the issues caused by the Toledo refinery fire in his analysis, "The Great Lakes will see prices drift lower as BP's Whiting refinery is soon to complete maintenance. In addition, oil prices have cooled off slightly after OPEC+'s decision to cut production, and that should slow increases elsewhere. Diesel and heating oil prices are likely to continue to rise as extremely low inventories of middle of the barrel products like these two push prices higher."
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