Cincinnati-area gas prices are moving up again this week, this time to an 8-month high.
Many stations in southwest Ohio raised their price of regular to $3.85 Wednesday night, with others all the way up to $3.89.
This matches the $3.89 price most Northern Kentucky stations hit 2 weeks ago.
While some drivers worry this could mean $5 gas this summer, the Government's Energy Information Institute and AAA say prices should not rise that much higher than they are now.
They say prices jumped a month earlier this year than normal, due to distribution problems related to Ethanol and refinery shutdowns.
However, analysts predict that our summer gas prices should top out just below $4, in mid-May this year.
They say prices should begin to drop after Memorial Day.
Reasons for the Recent Spike
Gasoline prices took an early hit this year because:
-Refineries went offline earlier for the switchover to "summer blend" gasoline
-Ethanol, now required in all states, had some distribution bottlenecks in March, that have since been resolved
-Oil prices surged past $100 a barrel due to unrest in the Ukraine and other areas.
The Energy Information Institute says those distribution issues are now under control, and says barring any major world conflict, prices should not exceed $4 this year, except in high price areas like Chicago and California.
As always, don't waste your money.
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