Ohio gas drops 11 cents
Last Edited: Monday, 17 Nov 2008, 10:32 AM EST
Created On: Monday, 17 Nov 2008, 10:32 AM EST
COLUMBUS, Ohio (AP) - Ohio gasoline prices have fallen another 11 cents in the last week, continuing their steady decline.
Regular-grade gas is currently averaging about $1.87 per gallon, the lowest since February 2005 and more than 20 cents below the national average, according to auto club AAA, the Oil Price Information Service and Wright Express.
Ohio's average price is down from $1.98 last Monday and down from $2.76 a month ago.
One year ago, Ohioans were paying $3.09 for regular, on average.
Oil and gas prices are in a downward spiral because of investors' fears that a global economic slowdown will hurt demand for fuel.
Prices for crude oil have tumbled about 62 percent since peaking at nearly $150 a barrel in mid-July.
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