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How will Hurricane Nate affect gasoline prices?

• Oct 9, 2017 at 8:48 AM

Average retail gasoline prices in Ohio have fallen 7.4 cents per gallon in the past week, averaging $2.27 per gallon Sunday, according to GasBuddy's daily survey of 5,345 gas outlets in Ohio. This compares with the national average that has fallen 6.0 cents per gallon in the last week to $2.47 per gallon, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Ohio during the past week, prices Sunday were 1.4 cents per gallon lower than the same day one year ago and are 21.4 cents per gallon lower than a month ago. The national average has decreased 19.3 cents per gallon during the last month and stands 21.4 cents per gallon higher than this day one year ago.

According to GasBuddy historical data, gasoline prices on Oct. 9 in Ohio have ranged widely over the last five years: $2.28/g in 2016, $2.51/g in 2015, $3.10/g in 2014, $3.34/g in 2013 and $3.75/g in 2012.

In Huron County this morning, the average price was $2.28 per gallon.

At the time this story was posted, nearly all of the Norwalk gas stations were selling gas for $2.29 per gallon.

Areas near Ohio and their current gas price climate:

• Akron- $2.17 per gallon, down 3.4 cents per gallon from last week's $2.20 per gallon.

• Dayton- $2.21 per gallon, down 12.1 cents per gallon from last week's $2.33 per gallon.

• Columbus- $2.21 per gallon, down 12.9 cents per gallon from last week's $2.34 per gallon.

"Gas prices have today entered their fourth straight week of declining nationally, a trend unlikely to be interrupted by Hurricane Nate over this past weekend," said Patrick DeHaan, senior petroleum analyst for GasBuddy. "Gasoline supply has continued to improve and as temperatures begin to feel more fall like, demand for fuel will continue to decline. Hurricane Nate, a fast moving storm, did little to disrupt the flow of fuel to market while having a larger impact on oil rigs.

“However, the nation continues to be awash in crude oil, so the storm mattered little to oil prices,” DeHaan added. “Look for relief to continue in most of the country while Great Lakes states may see a move higher in the next few days due only to the repetitive price cycling behavior.

“Nationally, prices still stand about 15 cents per gallon higher than their pre-Harvey level, but the gap will continue to slow as prices slowly trickle down,” DeHaan concluded.

GasBuddy provides live fuel price averages online. This technology company reportedly assists more than 70 million consumers find, purchase, and save money on gasoline.

Founded in 2000, the original GasBuddy website was a pioneer in crowd-sourced information, leveraging technology, big data, and a passionate community that now connects more than 70 million users with real-time, accurate fuel pricing information as well as reliable reviews of gas station amenities and services.

The app and website provide accurate and real-time fuel prices at more than 140,000 unique stations in the United States, Canada, and Australia. For more information, visit www.gasbuddy.com.

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