Key Takeaways:
- Columbus-area gas prices fell 23.4 cents per gallon last week, averaging $4.29 a gallon Monday, according to GasBuddy.
- The drop followed the restart of a major refinery in the Great Lakes region, GasBuddy’s head of petroleum analysis said.
- Columbus prices remain $1.41 higher than a year ago and 30.8 cents higher than a month ago.
- Statewide, Ohio’s average price fell 20.6 cents to $4.30 a gallon; the national average dropped just 1.6 cents to $4.42.
- Prices could rise again if the Strait of Hormuz remains closed or fighting in Ukraine continues, according to GasBuddy.
Quick Facts:
What: Columbus gas prices dropped after a Great Lakes refinery issue was resolved.
Where: Columbus and central Ohio; based on a survey of 500 area stations.
When: Prices reported Monday, based on data through Sunday.
Who: GasBuddy, petroleum analyst Patrick De Haan.
Status: Ongoing — prices tied to global oil supply.
Source: NBC4 Columbus
What Happened
Columbus-area gas prices fell 23.4 cents per gallon last week, averaging $4.29 a gallon Monday, according to GasBuddy’s survey of 500 central Ohio stations. The drop followed the restart of a major refinery in the Great Lakes region.
The cheapest station in the Columbus area was priced at $3.82 a gallon Sunday, while the most expensive charged $4.69, an 87-cent gap. Statewide, Ohio’s average price fell 20.6 cents to $4.30 a gallon. Nationally, prices dropped just 1.6 cents to $4.42 a gallon, and diesel fell 4.1 cents to $6.45 nationally.
Despite the decline, Columbus drivers are still paying far more than a year ago, when the average sat at $2.88 a gallon.
What Officials Said
Patrick De Haan, GasBuddy’s head of petroleum analysis, said prices dropped primarily in the Great Lakes region after the refinery restarted. He said continued disruption at the Strait of Hormuz and ongoing attacks in Ukraine could keep pushing prices back up.
What This Means for Columbus Residents
Filling a mid-size car at $4.30 a gallon costs roughly $65; a large SUV or pickup with a 25-gallon tank could run $115. Drivers can save by comparing stations, since prices vary by as much as 87 cents a gallon across the Columbus area. GasBuddy’s De Haan cautioned the relief may be temporary given ongoing international supply pressures.
Background
Columbus gas prices have swung sharply over the past year, driven largely by refinery outages and international conflict affecting oil markets, including U.S. military action against Iran in February and the subsequent closure of the Strait of Hormuz.
Columbus Frontline will update this story if prices shift again this week.