Gas prices are 14 cents lower in Northeast Ohio this week at $2.640 per gallon, according to AAA East Central’s Gas Price Report.
Nationwide Trends
Lower gas prices continue as the new year begins with the national average falling a penny over the past week to $2.81. This is the lowest national average in the past five years. Cheaper crude oil prices and supply increases are contributing to the decrease in gasoline prices. Today’s national average is 16 cents less than a month ago and 25 cents less than a year ago.
At the close of Friday’s formal trading session, West Texas Intermediate fell by nine cents to settle at $57.32 a barrel. U.S. crude oil inventories are about 4% below the five-year average for this time of year.
The national average per kilowatt hour of electricity at a public EV charging station stayed the same this past week at 38 cents.
Northeast Ohio Averages
Today: $2.640…