The Columbus gas prices summer outlook is improving as pump prices retreat from recent highs. Still, analysts say drivers may wait several months before prices return to levels seen before March.

Columbus gas prices summer outlook points to gradual declines

Gas prices in Columbus, Ohio, have fallen at several stations, giving motorists some relief after a sharp increase. Drivers said prices approached $5 per gallon during the surge.

Zac Bruney said he paid close to that level before recently finding gas for $4.19 per gallon. Shawn Miller said elevated fuel costs have also pressured his excavation and pool businesses, where limiting travel is difficult.

GasBuddy reported that the national average price for regular gasoline declined for five consecutive weeks. In Columbus, a station near the Ohio State University campus fell from $4.49 to $4.19 per gallon, while a Speedway in the Old North dropped from $4.99 to $4.15 over roughly six weeks.

Why a return to pre-March prices may take months

Patrick De Haan, GasBuddy’s head of petroleum analysis, said prices could continue falling following the deal with Iran, but motorists should not expect an immediate return to earlier levels. He said global oil inventories are short by nearly 2 billion barrels and will require time to rebuild.

The GasBuddy figures cited in the report showed prices were still 84 cents per gallon higher than a year earlier, despite declining 61 cents from four weeks earlier. De Haan said further decreases remain possible if shipping conditions continue to improve.

Columbus last averaged below $3 per gallon before March, according to GasBuddy. De Haan said prices could reach the mid-$3 range around the Independence Day holiday, although renewed tensions could reverse the decline.

For Columbus drivers and local businesses, the trend offers near-term relief, but the pace of recovery in global oil supplies will help determine how much lower pump prices can go this summer.