Gasoline prices drop, but still higher than last year

Freeze at the pump might continue for the week, analyst says
Norwalk Reflector Staff
Jan 6, 2014

Average retail gasoline prices in Ohio have fallen 9.5 cents per gallon in the past week, averaging $3.28 per gallon Sunday, according to GasBuddy's daily survey of 5,345 gas outlets in Ohio. This compares with the national average that has not movedĀ  in the last week to $3.30 per gallon, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Ohio during the past week, prices Sunday were 10.0 cents per gallon higher than the same day one year ago and are 3.2 cents per gallon higher than a month ago. The national average has increased 5.7 cents per gallon during the last month and stands 3.3 cents per gallon higher than this day one year ago.

"While the cold weather is about the lock the country into a deep freeze, we're also seeing a bit of a freeze in the national average," said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. "For much of the week ahead, we may see the freeze at the pump continue, as oil prices have recently shed some of their gains from late December. January and February see some of weakest demand for gasoline in the year, so it wouldn't be surprising to see the average move slightly downward in the next couple weeks," DeHaan said.

Comments

Kingsin

A freeze at the pumps is great when everyone is under a level 3 and couldn't take advantage of it even if they wished. Such is the unfairness of life.

ladydye_5

Yep, no one is buying it. So the price will drop due to a surplus.

Really are you ...

Ha!

Kingsin

It's understanding how the markets work. If the market wants the price up- they manufacture some sort of crisis; some type of supply issue, shipping tanker problems, middle-east problems, gulf oil platform problem, you name it- they dictate the market price regardless.

hit the road jack

Price of regular unleaded in council bluffs Iowa is 2.89 gallon.