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Ohio drivers pay less for gas as oil prices drop

4:54 AM, May 14, 2012   |    comments
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COLUMBUS, Ohio -- Ohio drivers are paying less for gas as oil prices continue to drop.

The average price for regular gas in Ohio is $3.63 a gallon in Monday's survey from auto club AAA, the Oil Price Information Service and Wright Express. That's 13 cents cheaper than a week ago.

Gas cost about $4.02 at this time last year, after prices hit record highs.

Oil prices have fallen recently amid concern that global crude demand will grow less than expected this year.

Some analysts say the price slump isn't being driven by global supply and demand fundamentals, but rather the old market adage about selling assets at the beginning of the summer months.

Nationally, the average price for regular gas is a nickel cheaper than last week at $3.73.

The Associated Press

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