Gas prices drop in Cincinnati, across the country

CINCINNATI (WKRC) - Some gas prices have not only dropped locally, but also across the country.

Cincinnati gas prices have fallen 5.3 cents per gallon in the past week, averaging $3.13 per gallon on Monday, according to GasBuddy's daily survey.

Those prices were 19.5 cents per gallon lower than a month ago yet $1.10 per gallon higher than a year ago.

In Southeast Indiana, prices were down 5.5 cents per gallon in a week, averaging $3.20 per gallon.

The national average price of gasoline was down 5.3 cents per gallon in the last week, averaging $3.34 per gallon on Monday.

"The downturn in average gas prices continued to gain momentum last week as oil prices remained at a hefty discount. This is largely due to continued anxiety over the omicron variant and because some countries have begun issuing lockdowns, keeping motorists in some countries from consuming as much fuel," said Patrick De Haan, head of petroleum analysis for GasBuddy. "While the Great Lakes region, the fastest to see prices respond to market fluctuations, is seeing hefty monthly declines approaching 30 cents per gallon, much of the rest of the country is lagging behind. But, we will see precipitous declines in the next week or two as stations continue to sell through higher priced inventory before slowly lowering their prices. It's not impossible given the conditions that price wars, where stations lower their price significantly, could emerge as stations now have considerable room to lower prices."

It's a different story in Northern Kentucky, where prices were up 0.9 cents to $3.26 per gallon. That was an increase of $1.21 on the date a year ago.

Historical gasoline prices in Cincinnati and the national average going back ten years:

• December 6, 2020: $2.03/g (U.S. Average: $2.16/g)
• December 6, 2019: $2.53/g (U.S. Average: $2.59/g)
• December 6, 2018: $2.40/g (U.S. Average: $2.43/g)
• December 6, 2017: $2.27/g (U.S. Average: $2.47/g)
• December 6, 2016: $2.17/g (U.S. Average: $2.19/g)
• December 6, 2015: $1.93/g (U.S. Average: $2.03/g)
• December 6, 2014: $2.63/g (U.S. Average: $2.68/g)
• December 6, 2013: $3.15/g (U.S. Average: $3.25/g)
• December 6, 2012: $3.34/g (U.S. Average: $3.37/g)
• December 6, 2011: $3.18/g (U.S. Average: $3.27/g)