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Gas prices continue slow decline in Northeast Ohio: See the difference compared to last week

'While we may see prices decline into this week, the drop could fade soon if oil prices reverse, especially with strong demand over the holiday.'
Credit: coreyfrey - stock.adobe.com
Gas station.

CLEVELAND — Gas prices have dropped once again throughout the last week as the national average now stands at $4.78 after falling 10.4 cents per gallon.

Here in Northeast Ohio, drivers are seeing a similar trend as gas prices have gone down 12.3 cents per gallon in Cleveland and dipped 13.6 cents in Akron within the last week. While the Cleveland average is 12.7 cents per gallon lower than a month ago, it still remains $1.76 higher than one year ago, according to new data released by GasBuddy early Tuesday morning.

LIST & MAP: Find the cheapest gas prices near you

“As expected, and for the third straight week, average gasoline prices have fallen to their lowest level in over a month,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “The price of wholesale gasoline has plummeted, providing price relief as millions of Americans hit the road for the holiday weekend. While we may see prices decline into this week, the drop could fade soon if oil prices reverse, especially with strong demand over the holiday. For the time being, Americans are spending nearly $100 million per day less on gasoline than when prices peaked a few weeks ago, and that's well-needed relief at a time when gas prices remain near records."

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

  • July 5, 2021: $2.97/g (U.S. Average: $3.12/g)
  • July 5, 2020: $2.20/g (U.S. Average: $2.17/g)
  • July 5, 2019: $2.68/g (U.S. Average: $2.75/g)
  • July 5, 2018: $2.75/g (U.S. Average: $2.87/g)
  • July 5, 2017: $2.10/g (U.S. Average: $2.24/g)
  • July 5, 2016: $2.17/g (U.S. Average: $2.26/g)
  • July 5, 2015: $2.71/g (U.S. Average: $2.77/g)
  • July 5, 2014: $3.54/g (U.S. Average: $3.66/g)
  • July 5, 2013: $3.40/g (U.S. Average: $3.47/g)
  • July 5, 2012: $3.35/g (U.S. Average: $3.33/g)

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Editor's note: Video in the player above was originally published in an unrelated story on July 4, 2022.

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