Ohio gas prices down from last week

Ohio gas prices down from last week

COLUMBUS

Ohio drivers are seeing lower gas prices to start the workweek.

A gallon of regular gas in Ohio was averaging $2.70 in Monday’s survey from auto club AAA, the Oil Price Information Service and WEX Inc. That’s down 9 cents from a week ago. Ohio gas prices remain significantly cheaper than last year at this time, when prices were averaging $3.82 per gallon.

Ohio’s average remains below the nation’s average, which was $2.75 per gallon Monday.

The average national price of regular gasoline climbed steadily in May, but analysts say smaller increases more recently could indicate gas prices may be close to peaking as the summer driving season gets underway.

Survey: Slow growth in 2nd quarter

U.S. economic growth in the second quarter will be far weaker than previously expected, and it will prevent the pace of growth from exceeding last year’s 2.4 percent, according to a forecast by a group of U.S. business economists.

Growth is expected to accelerate significantly in the third quarter, but “sluggish” conditions in the first three months of the year will persist into the second quarter and drag down average growth for the year, a survey by the National Association for Business Economists said Monday.

The survey of 47 economists from companies, trade associations and academia was conducted from May 8 to May 20.

NTSB: Collision avoidance systems should be standard

WASHINGTON

Automakers should include as standard equipment in all new cars and light trucks systems that automatically brake or warn drivers to avoid rear-end collisions, the National Transportation Safety Board said in a report released Monday.

The systems could prevent or mitigate more than 80 percent of the rear-end collisions that cause about 1,700 deaths and a half-million injuries annually, the report said.

The board has recommended adoption of collision-avoidance systems a dozen times over the past 20 years, but the report called progress “very limited.” Only four of 684 passenger-vehicle models in 2014 included such a system as a standard feature.

When the systems are offered as options they often are bundled with nonsafety features, making the overall package more expensive.

Dow falls into red

NEW YORK

The Dow Jones industrial average slipped into the red for the year Monday as stocks extended their slump.

Airlines were among the biggest losers amid concern that capacity growth in the industry may curb profitability. JetBlue Airways, American Airlines and Delta Air Lines were among the carriers that declined.

Stocks have sagged in the past two weeks as investors try to assess if Federal Reserve policymakers will raise their benchmark interest rate later this year for the first time since the recession.

Associated Press