January is typically the month when gas prices fall to their lowest level of the year, for one simple reason: demand is at its lowest, with children back in school and few people taking long driving trips.
So, Cincinnati-area drivers this week are getting a bit of sticker shock at the pump, as prices have spiked for the second time since New Year's Day.
Following a jump to $3.25 two weeks ago, the price of regular gas is up again at many stations to $3.49.
This is the highest price since mid-November, and 50 cents higher from the lows we saw during the holiday season, when prices dropped as low as $2.89 at many stations.
Reason for the unusual January jump
AAA blames rising crude oil prices for the slow rise in gas prices nationwide this month.
Oil has surged from $60 to over $80 a barrel as China has reopened its economy, after a two-year COVID lockdown.
Refinery shutdowns over Christmas have also contributed to the recent rise.
AAA says it is unlikely we will return to the December lows, given that gas prices typically rise in February and March, in anticipation of the spring driving season.
As of Thursday, you could still find gas for $2.99 in parts of Springdale and Florence, Ky., though most stations were in the $3.25 to $3.35 range and moving up toward $3.49.
CLICK HERE for WCPO's map of the latest gas prices.
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