COLUMBUS, Ohio (WCMH) – The declining trend of lower gas prices took a week off in Columbus, but experts believe there is more relief in sight heading into November.
According to GasBuddy’s survey of 500 stations, the price of a gallon of gasoline went up by 12.4 cents, averaging $3.23 per gallon last week, the first increase after prices dropped 53.3 cents per gallon over the last month.
The current price is 30 cents lower than one month ago and 44.1 cents lower than this time one year ago. Nationally, gas prices dropped by 5.2 cents to $3.50 per gallon.
The cheapest gas station in the Columbus area was priced at $2.75 a gallon, while the most expensive was $3.73, a difference of 98 cents per gallon. Prices could drop again in the coming weeks, according to Patrick De Haan, head of petroleum analysis at GasBuddy.
“The national average is on the cusp of falling to the lowest level since March, something that could happen this week. Demand for gasoline continues to weaken as we get closer to winter, as there isn’t as much desire to get out,” said De Haan.
“Coupled with cheaper winter gasoline and refinery issues that have faded to the rearview, gasoline prices have been weakening even as oil prices have climbed. For now, that trend will likely mean further declines in the weeks ahead, before prices bottom out sometime between Thanksgiving and Christmas.”