COLUMBUS – Despite a third straight week of gas price increases in central Ohio, motorists are still enjoying the lowest early-autumn prices since 2004.
The average price for a gallon of regular gas in Columbus was about $2.37 in Monday’s survey from auto club AAA, the Oil Price Information Service and WEX Inc. That’s 3 cents more than a week ago, but 28 cents cheaper than on Aug. 28.
The statewide average price of $2.34 a gallon is a nickel more than a week ago but still significantly cheaper than at this time last year, when the average was $3.30.
Industry analyst Trilby Lundberg said Sunday that prices have plummeted from five weeks ago as U.S. retailers and refiners slashed their profit margins even as crude oil prices rose.
She says she expects prices could drop another few cents due to ample gasoline supplies and strong consumer demand.
The national average on Monday was $2.29, the same price as a week earlier. It was $3.34 a year ago.