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Gas prices in Toledo up more than 50 cents in past three weeks

The average price for a gallon of gas in the Glass City stands at $3.95. The fatal fire at the BP Husky refinery and OPEC+ cutting oil production are likely factors.

TOLEDO, Ohio — Gas prices in Toledo increased for the third week in a row.

The average price in the city stands at $3.95 a gallon, according to GasBuddy's daily survey of 315 stations in the city. This is an increase of 22.1 cents from last week.

Prices are 40.8 cents higher than a month ago and 87.2 cents higher than a year ago. The cheapest station in Toledo was priced Sunday at $3.79, while the most expensive was $4.09.

The average price is up 50 cents in the last three weeks. Various factors are being blamed, including a fatal fire at the BP Toledo Refinery, Hurricane Ian and OPEC+ cutting oil production.

The national average increased 13.8 cents to $3.92. Diesel fuel increased 18 cents to $5.04.

"With OPEC+ deciding to cut oil production by two million barrels a day, we've seen oil prices surge 20%, which is the primary factor in the national average rising for the third straight week," said Patrick De Haan, head of petroleum analysis at GasBuddy. "Some of the refinery snags that have caused prices to surge in the West and Great Lakes appear to be improving, with prices in those two regions likely to inch down, even with OPEC's decision, as the drop in wholesale prices has offset the rise due to the production cut. But where gas prices didn't jump because of refinery issues, they will rise a total of 10-30 cents due to oil's rise, and some areas are certainly seeing the jump already. For now, I don't expect much improvement in prices for most of the country, with California and the Great Lakes as the exception, with downdrafts likely in the days and weeks ahead."

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