NEO gas prices drop 4 cents

The current average price at the pump for a gallon of self-serve, regular unleaded gasoline in Northeast Ohio is $2.693. This reflects a 4.1 cent drop from last week.

According to AAA’s Fuel Gauge, the price of crude oil surged ahead $2.39 to end Monday at $81.34, its highest price since the first week of May. Crude continued to follow the direction of the stock market as a new month signaled renewed optimism on the direction of the economy.

The national average price for a gallon of self-serve regular gasoline is $2.726. The current national average price is down 1.6 cents when compared to last week, and 1.2 cents one month ago. The price of gasoline has been remarkably consistent this summer with prices remaining within a five-cent range ($2.70-$2.75) since May 28.

This time last year, the national average price was $2.549 per gallon, or nearly 17.7 cents less than the current price, the AAA said.