Gas stations are delivering some holiday cheer with unleaded prices plunging.
Wellington stations were unilaterally locked in Friday at $1.89 per gallon. 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 | Wellington Enterprise Gas was $1.89 per gallon Friday at every Wellington station. Some analysts expect it to fall another 35 cents by Dec. 25.