COLUMBUS, Ohio – An abundance of gasoline has led to a price drop at the pump, according to a leading oil industry analyst.
Lundberg Survey President Trilby Lundberg says refiners are over-producing gasoline and slashing their wholesale prices to move product.
A daily survey by the AAA, the Oil Price Information Service and Wright Express shows the average retail price of regular gasoline in Columbus is virtually unchanged since Aug. 5 but is 18 cents lower than one week ago.
The average U.S. price of a gallon of gasoline has fallen about 8 cents over the past two weeks, Lundberg says.
The Lundberg Survey of gas prices released Sunday says the price of a gallon of regular is $3.60.
ColumbusGasPrices.com reports drivers will find prices ranging from $3.21 in west Columbus to $3.69 in Upper Arlington.