COLUMBUS, Ohio – Although central Ohio motorists saw a pre-weekend spike in gas prices the average price nationwide hit $3 a gallon Friday morning and is expected soon drop below that benchmark for the first time since December 2010.
The AAA says gas prices fell 33 cents in October, thanks mainly to plunging oil prices.
The average price in Columbus jumped 11 cents overnight, but is still 31 cents cheaper than on Oct. 1. Ohio’s average price was 38 cents lower than it was a month ago, the fourth-largest month-to-month drop in the country.
Gas prices, which typically fall at this time of year, have plunged due to the sharply declining price of crude oil, which accounts for about two-thirds of the price consumers pay for gasoline at the pump, AAA public relations manager Michael Green says.
Barring any other factors, Green expects gas prices to continue to fall as long as crude oil prices decline.