COLUMBUS, Ohio – Gas prices in central Ohio are at their lowest levels in nearly two years, thanks to cheap crude oil, but they are not likely to stay there.
A gallon of regular gas was averaging $2.98 in Monday’s survey from auto club AAA, the Oil Price Information Service and WEX Inc. That’s a 30-cent plunge over the last two weeks and is 14 cents cheaper than last Monday. The statewide average of $3.04 is 13 cents less than a week ago.
The average price was also below the $3 mark in the Dayton and Toledo areas.
The national average was $3.20 on Monday, 9 cents less than a week ago, and that may foreshadow a jump at the pump in Columbus as stations align their prices with the overall national market.
Analysts say prices will likely continue to fall amid decreased demand and lower crude oil prices.
Industry analyst Trilby Lundberg said Sunday that her national survey showed Americans are paying 12 cents on average less than they were three weeks ago.
She says the price has decreased for 16 weeks she forecast further cuts of a dime or more, thanks to decreases in the price of crude oil and ethanol.