Gas prices on the rise

DAYTON, Ohio – (WDTN) If you’re planning a road trip this holiday weekend, AAA said you will be paying the highest gas prices in years!

They’re numbers most drivers are keeping an eye on.

“The best deal, that’s what I look for. It’s a few cents but that can add up,” said Driver, John Gearhart.

Thirty cents! That’s the difference between the cost of a gallon of gas last 4th of July compared to this year.

And it’s only expected to get worse.

“The continuing trouble that we see in Iraq has a lot of investors worried that we might see some sort of supply shock. Right now prices for oil are above $100 a barrel and they seem to be holding there and as long as they stay at that level, we are going to have prices above $3.50 a gallon,” said Bertha Coombs from CNBC.

Analysts are watching hot oil spots like Iraq, Nigeria, and Libya very closely. Too much trouble there could potential take that oil off line, bringing the price for gas up here.

“Everybody has to have fuel but the way they are doing this fuel cost is ridiculous,” said Gearhart.

The price you see at the pump is really set by a cycle. The station makes the ultimate decision but if their supplier charges them more, your bill is sure to go up.

But it’s rare to see the price vary too much from station to station.

“It does become a competitive situation but nobody wants to be the one with the highest price because they know that as consumers we are going to drive a little bit extra if we can find a cheaper price per gallon down the road,” said Coombs.

AAA estimates 1.7 million Ohioans will be traveling this weekend.

 

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