Good news, gas prices declining - Cleveland 19 News Cleveland, OH

Good news, gas prices declining

Good news, gas prices declining. (Source: WOIO) Good news, gas prices declining. (Source: WOIO)

Average retail gasoline prices in Cleveland have fallen more than eight cents per gallon in the past week, averaging $3.13/g yesterday, according to GasBuddy's daily survey of 831 gas outlets in Cleveland.

This compares with the national average that has fallen 6 cents per gallon in the last week to $3.21, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Cleveland during the past week, prices yesterday were 18.0 cents per gallon lower than the same day one year ago and are 23.4 cents per gallon lower than a month ago. The national average has decreased 18.0 cents per gallon during the last month and stands 12.8 cents per gallon lower than this day one year ago.

"What an impressive week it has been for watching the decline in gasoline prices across the country," said GasBuddy.com analyst Patrick DeHaan. "I don't think I've seen such big drops in retail prices collectively since the recession of 2009. Last week, every single state saw its average gas price decline. The smallest decline in state averages in the lower 48 states was a 5-cent decline in West Virginia. You know... its been a pretty good week when you can say the smallest average state decline was a nickel in a week. Meanwhile, the largest drop was in Minnesota's average, which saw a 16-cent decline. Perhaps most incredibly, the number of stations in the U.S. selling under $3/gal amounted to almost 25% of all stations yesterday. Last Monday, that number was just 6.6%. That means currently 30,000 gas stations in the U.S. are charging less than $3/gallon. And perhaps the best news for motorists is that we have more decreases coming- some states could see their lowest prices since late 2010 over the next month," DeHaan noted.  

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