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Gas prices plunge in 18 cents in Akron, 11 cents in Cleveland: Here's what GasBuddy is saying about the recent drop

Gas prices have dropped to nearly $3 per gallon in Akron since last week.

AKRON, Ohio — The average price for a gallon of gas has dropped once again across Northeast Ohio.

Akron drivers are now paying an average of $3.03 per gallon after prices fell 17.9 cents within the last week, according to new data released early Monday by GasBuddy.

Cleveland’s gas prices have also dropped, falling 10.7 cents per gallon since last week. The city’s new average is now listed at $3.16. That puts Cleveland’s gas prices 42.3 cents lower than a month ago, and 19.6 cents cheaper than a year ago.

LIST & MAP: Where to find the cheapest gas near you

The national average, meanwhile, is at $3.33 per gallon after experiencing a smaller decline of just 4.3 cents.

"The national average has resumed its decline after a pause last week as oil and wholesale gasoline prices fell on worrisome inflation figures showing the Fed likely to ramp up rates to slow inflation," said Patrick De Haan, head of petroleum analysis at GasBuddy. "Some nine out of 10 states saw declines over the last week, so the drops are showing up for most across the country, with the exception of the West Coast as the transition to summer blends continues, and in the Great Lakes, where prices cycled last week but have now resumed declining. For the weeks ahead, tradition tells us to expect prices to move up eventually, but that could be at least be partially offset by inflationary data that continues to be hotter than expected, leading to anxiety that the Fed will boost interest rates and cooling the economy and oil demand considerably."

See historical gasoline prices in Cleveland and the national average going back 10 years:

  • February 27, 2022: $3.35/g (U.S. Average: $3.59/g)
  • February 27, 2021: $2.64/g (U.S. Average: $2.72/g)
  • February 27, 2020: $2.40/g (U.S. Average: $2.44/g)
  • February 27, 2019: $2.32/g (U.S. Average: $2.42/g)
  • February 27, 2018: $2.30/g (U.S. Average: $2.53/g)
  • February 27, 2017: $2.13/g (U.S. Average: $2.29/g)
  • February 27, 2016: $1.78/g (U.S. Average: $1.74/g)
  • February 27, 2015: $2.29/g (U.S. Average: $2.37/g)
  • February 27, 2014: $3.52/g (U.S. Average: $3.43/g)
  • February 27, 2013: $3.84/g (U.S. Average: $3.79/g)

Editor's note: Video in the player above was originally published in an unrelated story on Feb. 20, 2023.

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