CINCINNATI — October is typically a time when gas prices drop due to lower demand.
With schools back in session and vacation season over, most are looking for pumpkins for Halloween.
But with the oil market marching upward – and hitting $80 barrel this week – gas prices are making an unusual autumn jump.
Most Cincinnati-area stations raised their price to $3.29 a gallon overnight on Tuesday,
According to the Energy Information Institute, that is their highest level in Southwest Ohio since August 2014, seven years ago.
It follows the trend of rising prices among many products:
- Home prices are up almost 20 percent in 2021.
- Used-car prices are up 20 percent year-to-year.
- Grocery prices are up 4 percent, according to the government's CPI index, though many items are even higher.
- Airfares and hotel rates are up to almost pre-pandemic levels.
Supply line shortages having an impact, too
The other factor affecting gasoline prices (like so many other things) are supply issues.
The truck and truck driver shortage is leaving some stations with empty gas pumps.
WCPO has heard reports of some gas stations on Cincinnati's east side out of gas, whichGasBuddy.com said tends to be the result of temporary trucking issues – not a major problem.
For the lowest Cincinnati-area gas prices, CLICK HERE. You may need to zoom in on the interactive map for prices to appear at individual stations.
And as always, don't waste your money.
___________________________________
Don't Waste Your Money" is a registered trademark of Scripps Media, Inc. ("Scripps").
Like" John Matarese Money on Facebook
Follow John on Instagram @johnmataresemoney
Follow John on Twitter (@JohnMatarese)
For more consumer news and money saving advice, go to www.dontwasteyourmoney.com
