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58m ago

U.S. Gas Prices Slide Again to $3.09 as Price Cycling Fuels Sharp Midwest Swings

Seasonal fuel changes combined with retailer price cycles are delivering short-term relief in many markets.

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Overview

  • The national average for gasoline fell 5.8 cents in the past week to about $3.09 per gallon, while diesel edged down 1.3 cents to roughly $3.65, according to GasBuddy.
  • Central Ohio saw one of the steepest declines, with Columbus dropping 19.1 cents to $2.88 per gallon and the Ohio state average falling 17.2 cents to $2.84.
  • Indiana recorded the largest statewide weekly increase due to a regional price cycle, contrasting with declines in other price-cycling markets like Ohio, Florida, and Michigan.
  • EIA data for the week ending Sept. 19 showed U.S. crude inventories down 0.6 million barrels and gasoline stocks down 1.1 million, with refinery utilization at 93.0%.
  • Oil prices rebounded late last week as geopolitical tensions and calls from President Trump for tougher NATO sanctions on Russian energy supported crude, while OPEC+ is considering a supply increase for November.