Business news digest

STATE

Ohio gas prices drop

COLUMBUS — Ohio gasoline prices have resumed their slide and, at an average $1.61 for self-service regular, are down 10 cents from last Monday.

The daily survey from AAA, the Oil Price Information Service, and Wright Express, shows the state’s gas prices have dropped 60 percent from the summer’s all-time high of $4.05 a gallon.

The current prices in Ohio are 11 cents below the national average of $1.72 for regular.

Among Ohio’s largest metro areas, Dayton has the cheapest gasoline, averaging $1.55. The survey shows prices are highest around Youngstown, where motorists are buying regular for an average $1.67.

Gasoline costs have been falling along with the price of oil, which traded Friday at a four-year low in the neighborhood of $40 a barrel.

NATION

Dow will cut 5,000 jobs

NEW YORK — Dow Chemical Co. said Monday it will slash 5,000 full-time jobs — about 11 percent of its total work force — close 20 plants and sell several businesses to rein in costs amid the economic recession. Dow Chemical has three Ohio plants: in Findlay, Hebron and Ironton. Exactly which workers and plants will be affected is still being determined. Dow also will temporarily idle 180 plants and prune 6,000 contractors from its payroll, a company spokesman said.

Vindicator wire reports