The ceasefire between the United States and Iran in the ongoing conflict has eased global tensions April 8, following President Trump’s initial warning of unleashing missile strikes that could destroy an entire civilization.
Global markets, however, continue to be volatile, as exemplified by fluctuating gas prices across the country. In Ohio, gas prices are $3.94 per gallon on average, according to GasBuddy as of Wednesday afternoon. Prices are up almost 20 cents from last week’s average.
Wondering what the average gas prices are in Summit County? Here’s what we know.
Iran War continues to affect local gas prices
Iran shut down the Strait of Hormuz Wednesday, in response to Israeli bombing raids on Lebanon. Because roughly one-fifth of the world’s oil and liquefied gas flows through the Strait, any disruption there can significantly influence gas prices worldwide.
The price of a barrel of Brent crude, the global oil benchmark, has dropped to $92 as of Wednesday morning, following the ceasefire announcement. It is still about 26% higher than it was prior to the war’s beginning on Feb. 28.
Average gas prices nationwide continue to be over $4 per gallon, at $4.15, GasBuddy reported. Prices could fall to under $4 within the next one or two weeks, Patrick De Haan, head of petroleum analysis at Gas Buddy, noted on Twitter.
“These levels are tentative based on current markets, changes are highly likely as the situation unfolds,” De Haan posted.
The ceasefire is viewed as a step in the right direction toward ending the Iran conflict and restoring the Strait of Hormuz, Brock Weimer, an investment strategy analyst at Edward Jones, told USA TODAY.
“That said, even if traffic resumes, we expect global oil supply normalization to take time, with prices likely to remain elevated relative to pre-conflict levels in the months ahead,” Weimer said.
What are gas prices in Akron today?
The average price for a gallon of gasoline in Akron is about $3.96, which is highest average in the area so far this year, GasBuddy reported.
This price is also the highest average in Akron since July 2025, following additional United States military action against Iran in June.
In Summit County, the average gas price is also $3.96 per gallon.
How to save money on gas
Looking for ways to save money on gas? Here are some fuel saving recommendations, courtesy of AAA.
USA TODAY contributed to this report.
Reporter Anthony Thompson can be reached at ajthompson@gannett.com, or on Twitter @athompsonABJ
This article originally appeared on Akron Beacon Journal: Gas prices in Greater Akron could fall after Iran ceasefire
Reporting by Anthony Thompson, Akron Beacon Journal / Akron Beacon Journal
USA TODAY Network via Reuters Connect
