With the recent Iranian attack on Israel and continued conflict in the Middle East, a spike in gas prices seemed inevitable.
And as expected, Cincinnati area gas prices are on the rise again to their highest level in more than six months.
Pump prices at Southwest Ohio gas stations are jumping from $3.59 to $3.75 a gallon.
That's almost a 20-cent jump and brings local gas prices to their highest level of the year — the highest since last September.
It's left drivers like Chiquita Wilson frustrated about how it's going to hit their budget.
"Yeah, it is, almost $67," she said while filling her minivan. "That's pretty outrageous, not what I wanted to pay for it."
In addition, prices are also now higher than they were one year ago this week, according to AAA.
However, prices in Northern Kentucky are lower, remaining in the $3.30 range at many stations as Kentucky gas comes from different distribution sources.
Two reasons for the increase
The Iranian attack on Israel over the weekend is obviously the prime reason for this week's spike.
The attack sent oil prices up to $90 a barrel, and that price jump is now reflected in what we are paying at the pump.
But there is a second reason for the increase: April 15th is the date when stations nationwide must switch over to cleaner summer blended fuel, which raises prices by 10 or 20 cents every spring.
So what happens next?
AAA says we can normally expect slow rises right until Memorial Day in late May, when prices usually peak for the year. Last year, prices in the region peaked at about $3.85.
But if the Israel conflict gets worse, and oil spikes again, all bets are off.
You can check WCPO's interactive map of current gas prices HERE.
As always, don't waste your money.
_____________________________
"Don't Waste Your Money" is a registered trademark of Scripps Media, Inc. ("Scripps").
Follow John:
- Facebook:John Matarese Money
- Instagram: @johnmataresemoney
- Twitter: @JohnMatarese
For more consumer news and money saving advice, go to www.dontwasteyourmoney.com
