Gasoline prices continue to drop, but won't stay down

A sampling of

Monday’s prices for regular

fuel

$2.25: Sam's Club, 6955 Miller Lane, Butler Twp.

$2.32: Mobil, 7224 Taylorsville Road, Huber Heights

$2.47: Shell, 5 N. Main St., Springboro

$2.47: Marathon, 2501 Dryden Road, Moraine

$2.49: Rich, 909 E. Main St., Trotwood

The average price of gasoline in the Dayton area is 20 cents below the national average, but this trend isn’t expected to continue for long.

While the national average for regular-grade gas is $2.62, Dayton’s average is $2.42, according to DaytonGasPrices.com.

The below-average rates can be attributed to low demand stemming from the region’s high unemployment rate and excess stockpiles in this part of the country, said Patrick Dehaan, senior petroleum analyst at GasBuddy.com.

Prices are roughly 40 cents per gallon lower than they were in early January.

Dehaan explained that stockpiles of winter-blend fuel need to be used before spring arrives.

“If the refiners don’t sell (the gasoline) in the next few weeks or months, it’s something they can’t use,” he said. “We’re seeing lower prices to drive up demand.”

While the Dayton region has seen a decrease in gasoline demand, the price of oil has been up and down in recent months.

In January, oil was at $84 a barrel before dropping to $69.59 earlier this month. Increased demand from developing countries, such as China, is keeping the price up.

While Dehaan expects gas prices in Dayton to stay below the national average for the next two to four weeks, prices will most likely not fall any further.

If gas prices were to drop, “It would happen sooner rather than later,” he said.

The Associated Press contributed to this report.

Contact this reporter at (937) 225-2178 or kcano@DaytonDailyNews.com.