Gas prices in Ohio continue to fall but what about Christmas?

CLEVELAND, Ohio (WOIO) -For the primary time since February, the nationwide common for a gallon of gasoline in beneath $3.50.

In Ohio the information is even higher with the common worth at $3.22 a gallon.

The nation continues to be paying about 15 cents greater than this time final 12 months.

Costs are anticipated to proceed to say no barring any points with refineries or the price of crude oil.

With fewer individuals driving within the fall and winter months, the demand for gasoline continues to say no, serving to costs.

However with Christmas developing there might be a slight surge.

“There may be typically a variation within the worth of gasoline across the holidays as demand goes up,” based on Jim Garrity with AAA. “However, it gained’t be something like what shoppers noticed earlier within the 12 months when costs hit report highs as a result of cheaper price of crude oil. Crude accounts for 50 to 60 p.c of what we pay on the pump.”

Presently crude oil, which is refined to make gasoline, is buying and selling round $80 per barrel.

Any time oil is buying and selling beneath $100, gasoline costs are likely to fall.

Any time its over $100 costs begin leaping.

Within the spring and summer season when the nation set information, crude oil was buying and selling round $125 which was additionally a report.

Copyright 2022 WOIO. All rights reserved.