NEO gas prices drop more than 9 cents

This week it is a 9.4 cent savings for Northeast Ohio motorists when they pull up to the pump for a gallon of self-serve, regular unleaded gasoline. The current price is $2.644 a gallon.

According to AAA’s Fuel Gauge, crude prices showed little movement Monday on the NYMEX dropping 19 cents after opening at $75.39.

After averaging over $81 per barrel a week ago, oil futures slid all the way to $75 at the close last Friday, its lowest point in the last month.

Crude’s plummet is directly attributable to less-than-favorable economic news from the U.S. and abroad, which prompted a steep drop in the stock market. As has been the case for most of this year, oil prices have had a strong correlation with the equities market.