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GasBuddy warns gas prices could increase very soon after falling for 9 straight weeks: Here's why

GasBuddy says higher prices could come as early as this week -- especially in areas of the Great Lakes.

CLEVELAND — Drivers throughout Northeast Ohio are finding more relief at the pump as gas prices have continued falling for nine straight weeks.

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

Within the last week, gas prices have dropped 11.9 cents in Akron, bringing the average to $3.40 per gallon. In Cleveland, gas prices have fallen 8.7 cents per gallon as the city’s average now stands at $3.61. For context, GasBuddy says these prices in Cleveland are 81.7 cents lower than one month ago, but remain 57.1 cents higher than one year ago.

Nationally, the average price is now at $3.92 per gallon after falling another 9.9 cents in the last week.

“For the ninth week straight, gas prices have continued to fall, but the streak is at great risk of being broken this week with wholesale gasoline prices having bounced back up some 40 cents per gallon as oil prices have rebounded," said Patrick De Haan, head of petroleum analysis at GasBuddy. "That means the decline in average prices could wrap up soon, with some price increases possible as early as this week, especially in areas of the Great Lakes. While the West Coast and some areas of the Rockies may see prices continue to drift lower, I do believe the national average could tick higher this week as the better-than-expected jobs report last week likely means less demand destruction than anticipated."

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

  • August 15, 2021: $3.04/g (U.S. Average: $3.17/g)
  • August 15, 2020: $2.06/g (U.S. Average: $2.17/g)
  • August 15, 2019: $2.68/g (U.S. Average: $2.63/g)
  • August 15, 2018: $2.76/g (U.S. Average: $2.85/g)
  • August 15, 2017: $2.23/g (U.S. Average: $2.34/g)
  • August 15, 2016: $2.09/g (U.S. Average: $2.12/g)
  • August 15, 2015: $2.84/g (U.S. Average: $2.67/g)
  • August 15, 2014: $3.46/g (U.S. Average: $3.46/g)
  • August 15, 2013: $3.44/g (U.S. Average: $3.53/g)
  • August 15, 2012: $3.81/g (U.S. Average: $3.71/g)


Editor's note: Video in the player above was originally published in an unrelated story on Aug. 11, 2022.

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