Cincinnati gas prices jump on hurricane fears

Don't Waste Your Money
Posted at 6:03 PM, Aug 25, 2017
and last updated 2017-08-31 18:10:59-04

With Hurricane Harvey taking aim at Texas oil refineries, the entire eastern half of the U.S. could be in store for a significant spike in gasoline prices in the coming week.

And already Cincinnati-area gas stations are raising prices in anticipation of the storm's impact.

Prices were spiking in Southern Ohio and Northern Kentucky to $2.55 - $2.59 a gallon Thursday, Aug. 31. Some Northern Kentucky stations jumped to $2.79.

Some stations in Butler and Warren counties had been as low as $2.15 this week, but were also seeing price hikes.

Why the price hikes?

There is no storm-related shortage of gasoline yet. But it is coming. The nation's largest gasoline refinery, in Port Arthur, Texas, is now flooded and closed.

Nearly half the country's refineries are in the Gulf region, which produces 17 percent of the nation's gasoline, according to the Oil Price Information Service.

The industry group says a bad hit could mean as much as a 25-cent jump nationwide in the coming weeks, if a refinery is damaged and has to shut down for lengthy repairs.

If you see a station still offering cheap gas, you may want to fill up, so you don't waste your money.


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