COLUMBUS – Motorists in central Ohio are filling up with the cheapest gas in 12 years.
The average price of a gallon of regular gasoline Monday morning was $1.49, the lowest price since Jan. of 2004, according to a daily survey from the AAA, the Oil Price Information Service and WEX, Inc. The price was 44 cents lower than it was on Christmas Day.
The statewide average was $1.56, 13 cents cheaper than one week ago when Ohio had enjoyed the largest one-week drop in the country (16 cents) from Jan. 11-18, according to the AAA.
The average price of gasoline nationwide has plunged 14 cents over the past two weeks, to $1.91 a gallon, according to industry analyst Trilby Lundberg’s biweekly survey, the lowest the price has been in seven years. The current gas price is 16 cents per gallon under its year-ago point.
Lundberg says the price drop may soon end as crude costs start going up again.
Gas prices are expected to remain relatively low because there is more than enough oil and gasoline around the world to meet demand. Pump prices also typically fall during winter months due to reduced demand.
The cheapest gas prices in central Ohio were $1.23 and $1.25 at various locations, according to GasBuddy.com.