Gas prices falling, could hit $1.50 by Christmas


Staff Report



<p style="text-align: right;">Valerie Urbanik | Oberlin News-Tribune Gas was under the $1.90 per gallon mark Friday at Oberlin stations. Some analysts expect it to fall another 35 cents by Dec. 25.

Valerie Urbanik | Oberlin News-Tribune Gas was under the $1.90 per gallon mark Friday at Oberlin stations. Some analysts expect it to fall another 35 cents by Dec. 25.


Gas stations are delivering some holiday cheer with unleaded prices plunging.

In Oberlin, we saw it advertised at $1.88 per gallon at Murphy USA and BP on Rt. 58, and just a penny more at Certified on US 20.

The cheapest gas we could find in Lorain County was $1.76 at both BJ’s and Costco in Avon.

Meanwhile, American Gas on East 152nd Street in Cleveland advertised at a mere $1.64.

Talk about a dip. Just before Election Day, fuel was stretching toward the $2.30 per gallon mark.

Now it’s leveled out at $2.10 nationally as the average has slid nine cents since Nov. 13, according to AAA. It’s primed to hit $2 for the first time since 2009.

Ohio has that beat by a mile at $1.88 on average. The state’s record high was $4.15 per gallon in May 2011, meaning a $2.27 decrease in four and a half years.

AAA predicts that by Christmas prices could be as low as $1.50 per gallon, saying refinery production in the Midwest is recovering while global demand falls. And November typically sees gas demand decline, the automotive club notes.

GasBuddy, an online company that tracks pump prices, believes AAA projections might be on the conservative side.

It’s analysts speculated recently that, “Some of the cheapest stations in the nation could drop to $1.49/gallon by (Christmas), with the national average dropping into the $1.80s.”

We’ll be keeping our eyes open and our wallets a little fuller.

Valerie Urbanik | Oberlin News-Tribune Gas was under the $1.90 per gallon mark Friday at Oberlin stations. Some analysts expect it to fall another 35 cents by Dec. 25.

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Valerie Urbanik | Oberlin News-Tribune Gas was under the $1.90 per gallon mark Friday at Oberlin stations. Some analysts expect it to fall another 35 cents by Dec. 25.

Staff Report