Gas prices plunging, but will it last?

Don't Waste Your Money

Gas pumps report


Photographer: WCPO
Copyright 2012 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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Posted: 06/26/2012

Finally: Cincinnati area gas prices are dropping, weeks after much of the rest of the nation enjoyed a break.

The only question: Is our respite for real or just temporary?

Gas prices are as low as $3.21 at the Kroger in Delhi Township, with $3.29 up and down Delhi Pike and Anderson Ferry road.

You can fill up for $3.39 in some parts of Mt Healthy, Hamilton, Florence and Erlanger. And many other areas are down to $3.49.

Its all the result of oil dropping to $79 a barrel, and is a huge relief to Tri-State drivers who were paying $3.79 as late as last week, despite oil's plunge.

Why it May Not Last

But tropical storm Debby has caused some temporary refinery shutdowns on the Gulf, which could mean prices this low may not last, despite low crude prices.

In addition, an Illinois refinery has been down for several weeks (which oil companies blamed for our recent high prices.)

And the Fourth of July driving holiday is approaching next week, when millions of Americans will hit the highway.  Gas prices typically jump a few days before a holiday, simply because the oil companies know demand will be up and that they can get away with it.

So enjoy it while we have it, so you don't waste your money.

For the latest gas prices around the Tri-State go to http:// www.wcpo.com/subindex/traffic/gas_prices to use our interactive map.

To download money-saving gas apps go to http:// www.wcpo.com/ dpp/news/science_tech/money-saving-gas-apps.

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Copyright 2012 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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