LIMA — Gas prices in the Lima region have fallen 15 cents since last week, according to prices reported to GasBuddy.com.
The average price for a gallon of regular unleaded gas was $1.95 early Monday, down from last week’s average of $2.10. Gas prices are also 20 cents lower than last month’s average of $2.15, and have decreased 1 cent from last year’s average.
The lowest average price in the region was $1.86 in Hardin County, followed by Shelby ($1.92), Auglaize ($1.93), Mercer and Van Wert ($1.94), Allen ($1.95), Hancock ($1.96), Putnam ($1.99) and Logan ($2) counties.
Gas prices in Ohio have fallen 10.1 cents per gallon in the past week, averaging $1.97 Sunday, according to GasBuddy’s daily survey of 5,345 gas outlets in Ohio. This compares with the national average that has fallen 4.9 cents per gallon in the last week to $2.15.
Including the change in gas prices in Ohio during the past week, prices Sunday were 7.7 cents per gallon lower than the same day one year ago and are 21.2 cents per gallon lower than a month ago. The national average has decreased 8.8 cents per gallon during the last month and stands 1.4 cents per gallon lower than this day one year ago.
Gregg Laskoski, senior petroleum analyst for GasBuddy, said energy experts are already speculating on what steps a Trump administration might enact first, as it relates to regulations and a possible increase in domestic oil and gas production.
“The Keystone XL Pipeline, for instance, is expected to find itself in a more favorable environment for approval, but it remains debatable whether such a development would directly benefit U.S. consumers,” Laskoski said in a statement.
While the new administration may play a role in domestic gas production in the coming months, Laskoski said he expects prices at the pump to move lower based on market fundamentals, not politics.
“Inventories remain healthy and wholesale gasoline prices across the U.S. today, on average, are more than 10 cents per gallon lower than where they stood just a week ago,” Laskoski said.
Reach John Bush at 567-242-0456 or on Twitter @bush_lima