COLUMBUS (WCMH) – After a sharp incline in gas prices the previous week, the cost of fuel dropped by over a dime in the Columbus area.
According to GasBuddy’s survey of 500 stations, the cost for a gallon of gas fell by 12.1 cents to $3.42 per gallon. It marks a six-week period in which prices fell after an increase. The current price is 9.6 cents per gallon higher than one month ago but remains 23.5 cents lower than this time one year ago.
The cheapest gas station in the Columbus area was priced at $3.11 a gallon, while the most expensive was $3.75, a difference of 64 cents per gallon. In Ohio, the average price of gas also fell by the same amount, 12.1 cents, from one week ago, averaging out at $3.39, while nationally, gas prices rose slightly (3.1 cents) to $3.60 per gallon.
According to Patrick De Haan, head of petroleum analysis at GasBuddy, the country avoided a jump in prices after a drone strike on Israel by Iran deescalated quickly, with minimal reported damage. But if the conflict continues, it could create a disturbance in oil prices.
“With the attacks largely thwarted and mostly unsuccessful, and with Iran signaling that their attack will be the end of their response, the risk to crude oil has diminished,” De Haan said. "If Israel, which has promised to respond with further attacks, indeed does press on, it could certainly still push oil prices higher.”
