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Gas prices surge nearly 30 cents a gallon in Toledo

The average price in the city is now $3.40.

TOLEDO, Ohio — Editor's note: the above video was first published Jan. 18 and is regarding electric vehicles in Wyoming.

Gas prices are on the rise again in northwest Ohio.

The average price for a gallon of gas in Toledo surged 29.4 cents last week to $3.40, according to GasBuddy's daily survey of 315 stations in the city. That price is 53.5 cents higher than a month ago and 38.8 cents higher than a year ago.

The cheapest station in Toledo was priced Sunday at $2.99, while the most expensive was $3.59. Prices locally have been up and down for the last few weeks.

The national average increased 11.3 cents a gallon last week to $3.39. The average cost of diesel fuel went up 2.6 cents to $4.60.

"Gasoline prices continued their upward trajectory last week as oil prices pulled them higher across the majority of the country, and continued refinery challenges kept supply of gasoline from rising more substantially," said Patrick De Haan, head of petroleum analysis at GasBuddy. "Macroeconomic factors have continued to weigh on oil and refined products, as strong demand in China hasn't been slowed much by a surge in new COVID cases. In addition, releases of crude oil from the Strategic Petroleum Reserve have wrapped up. Concerns are increasing that without additional oil, supply will tighten in the weeks ahead, especially as the nation starts to move away from softer demand in the height of winter. Moving forward, it doesn't look good for motorists, with prices likely to continue accelerating."

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