Columbus gas prices continue to fall with seasonal transition in limbo
COLUMBUS, Ohio (WCMH) – Gas prices in the Columbus area continue to fall while the expected seasonal transition towards higher costs remains in limbo.
According to GasBuddy’s survey of 500 stations in the Columbus area, the average price at the pump fell by 3.3 cents per gallon last week to reach $2.74, which is 29 cents-per-gallon lower than the national average. The current price is 28.5 cents per gallon lower than four weeks ago and 67.3 cents lower than this time one year ago.
The cheapest gas station in the Columbus area was priced at $2.37 a gallon on Sunday, while the most expensive was $3.29, a difference of 92 cents per gallon. In Ohio, the average price of gas actually rose, but only by 1.8 cents from $2.76 per gallon to $2.78 per gallon
Nationally, gas prices also fell slightly, by 0.6 cents per gallon, to reach $3.03. The price of diesel also dipped lower by 2.1 cents, settling at $3.61 per gallon.
Several factors are contributing to the slower than usual increase in gas prices this time of year, head of petroleum analyst Patrick De Haan said. While still anticipated, the rise in fuel cost may be delayed or even less than originally thought.
“Concerns about the direction of the economy could have a major influence on fuel prices in the months ahead, especially with the high level of uncertainty surrounding tariffs,” De Haan said. “Additionally, OPEC+ announced last week that it would gradually begin restoring oil production after nearly two years of cuts, adding further downward pressure on oil prices. As a result, the typical seasonal rise in gas prices has yet to materialize, and if and when it does, it may be considerably smaller than expected."