COLUMBUS, Ohio (WCMH) – Last week’s drop in gasoline prices throughout central Ohio was temporary, as predicted by experts.
According to GasBuddy’s survey of 500 stations in the Columbus area, the average price at the pump rose by 14.5 cents last week to reach $3.20 per gallon. The current price is 43 cents per gallon higher than four weeks ago but still 34 cents lower than this time one year ago.
The cheapest gas station in the Columbus area was priced at $2.17 a gallon on Sunday, while the most expensive was $3.31, a difference of $1.14 per gallon. In Ohio, the average price of gas also rose 12.8 cents from $2.99 per gallon to $3.12 per gallon.
Nationally, gas prices also jumped, by 10.6 cents per gallon, to reach $3.21. The price of diesel, however, rose only slightly by 3.6 cents, settling at $3.59 per gallon.
The rise in the national average price of gasoline was the largest gain this year, according to head of petroleum analysis with GasBuddy Patrick De Haan, who said prices could actually fall again, but only because of market instability.
“Oil prices have plummeted amid growing concerns about the global economy following the U.S. announcement of some of the most significant tariffs in over a century, along with OPEC+ restoring oil production faster than anticipated,” said De Haan. “In addition to falling oil prices, the stock market has dropped sharply, and the risk of a recession has increased— raising the likelihood of reduced global energy and oil demand, which is sending prices lower.”
