AKRON, Ohio — Gas prices have dropped throughout Northeast Ohio within the last week.
Drivers in Akron are now paying an average of $3.36 per gallon after prices fell 10.2 cents when compared to last Monday, according to new data released from GasBuddy.
Cleveland’s prices went down 8.7 cents, bringing the city’s average down to $3.41. For some added context, gas prices in Cleveland are now 1.2 cents higher than a month ago and $1.44 cheaper than a year ago.
The national average fell 3.9 cents to $3.51 per gallon.
LIST & MAP | Where to find the cheapest gas prices near you
"While the national average drifted lower last week as oil prices cooled off, the drop may be temporary,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “OPEC+ agreed Sunday to additional production cuts, while Saudi Arabia is going above and beyond and cutting July production. As a result, oil prices are likely to see upward pressure as global supplies, which have remained tight, promise to become even tighter as a result. Last time OPEC+ agreed to cut production, it led to a temporarily rally in the price of oil, but as global oil demand hasn't been as strong as expected, the cut failed to hold oil prices up. OPEC+ and Saudi Arabia are likely hoping that the rise in oil prices will stick longer this time, as the Saudi economy relies on oil prices north of $81 per barrel. It's likely that as a result of the production cut, oil prices could rally this week, pushing gasoline prices higher as early as mid-week. How long any rise in gas prices lasts is up in the air, but I do not yet believe motorists need to be worried. Any rise in average prices should be fairly small, and we're still extremely unlikely to make a run at record prices anytime soon."
See historical gasoline prices in Cleveland and the national average going back 10 years:
- June 5, 2022: $4.86/g (U.S. Average: $4.85/g)
- June 5, 2021: $2.91/g (U.S. Average: $3.05/g)
- June 5, 2020: $2.05/g (U.S. Average: $2.01/g)
- June 5, 2019: $2.67/g (U.S. Average: $2.78/g)
- June 5, 2018: $2.79/g (U.S. Average: $2.94/g)
- June 5, 2017: $2.26/g (U.S. Average: $2.37/g)
- June 5, 2016: $2.56/g (U.S. Average: $2.36/g)
- June 5, 2015: $2.74/g (U.S. Average: $2.76/g)
- June 5, 2014: $3.89/g (U.S. Average: $3.66/g)
- June 5, 2013: $3.85/g (U.S. Average: $3.62/g)
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