Gas prices expected to drop after Labor Day weekend


By Camri Nelson - cnelson@limanews.com



LIMA — Although gas prices have risen again, they are expected to lower after the Labor Day weekend, according to Patrick DeHaan, head of petroleum analysis for GasBuddy.

As of Monday afternoon, Hardin County had the lowest gas prices in the Greater Lima Region at $2.51, 33 cents lower than the national average.

The county with the second lowest average gas price is Van Wert at $2.643, followed by Shelby at $2.647, Mercer at $2.71, Auglaize at $2.74, Logan at $2.783, Allen at $2.784, Putnam at $2.79 and Hancock at $2.79.

On Monday afternoon, the average price for a gallon of regular gas in Ohio was $2.84, which was 12.9 cents higher than last week’s average. Sunday’s gas prices were 1.6 cents cheaper than Monday’s average. Last month’s gas prices were 5.8 cents lower than this month’s. Gas prices are 53.9 cents higher than last year.

Gas prices in the Lima region have increased 1.4 cents since last week, according to prices reported to GasBuddy.com. Sunday’s gas prices were 24.5 cents higher than Monday’s prices. Regional gas prices are 19.5 cents lower than last month and 32.2 cents higher than last year, according to GasBuddy’s daily survey of 5,345 gas outlets in Ohio.

The national average has gone up 1.5 cents from last week at $2.83. Sunday’s gas prices were 1.3 cents higher than Monday’s prices. Gas prices are one cent lower than last month’s average but have gone up 48.3 cents since last year.

Oil prices’s rise to $69 per barrel last week is one the contributing factors to this week’s higher gas prices, according to DeHaan.

However, as the Atlantic region remains quiet, DeHaan believes that prices across most of the country will fall soon.

“With Labor Day dead ahead, we may see a small rise in the national average this week, depending on oil’s move, but largely, this seems like the last week we’ll see elevated prices as demand is set to drop with the conclusion of Labor Day weekend,” said DeHaan in a news release.

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By Camri Nelson

cnelson@limanews.com

Reach Camri Nelson at 567-242-0456 or on Twitter @CamriNews.

Reach Camri Nelson at 567-242-0456 or on Twitter @CamriNews.

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