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Early Christmas: Cincinnati gas prices plunge to the $2.80's

But will this 40 cent drop really last?
Gas prices fall to $2.82
Posted at 11:33 AM, Dec 02, 2021
and last updated 2021-12-02 11:33:04-05

CINCINNATI — It's been a tough year on our wallets with prices soaring due to supply chain issues and inflation.

But we are finally getting a break when it comes to gas prices, with an early holiday gift in the form of a .40 cent drop at the pump.

Myra Johnson couldn't believe what she found at Speedway on Columbia Parkway this week: Gas prices down to $2.82 a gallon, far lower from the $3.35 prices in the area just a few weeks ago.

"Oh, it's wonderful, it is just wonderful," she said.

Erin McGillicuddy saved $15 filling up her SUV, compared to last time.

"I am an in-home therapist, and I drive all around town, " she said, "and this is the lowest I have seen in the past three weeks."

Just up the road, at UDF in Mt Lookout, prices were also down to $2.82.

Gas reports prices as low as $2.81 Thursday at several stations on the West Side, including Mt. Airy and Monfort Heights

In Kentucky,Gas Buddy reports$2.84 at several stations in Florence, as well as $2.79 at Sam's Club there (membership required).

Click on the WCPO Gas Price Map to see prices at stations near you.

How long will this break last?

AAA and Gas Buddy credit a combination of:

  • Thanksgiving holiday demand coming to an end.
  • World crude prices dropping from $80 to under $70 a barrel.
  • President Biden's recent release of oil from the nation's Strategic Petroleum Reserves.

All that is knocking pump prices down 20 - 40 cents from two weeks ago, depending on location.

Marvin Springer was so thrilled, he was filling up a gas can for his mower and power tools.

"It wont last, I don't think so," he said, "so I will enjoy it while its here."

He could be right. Bank of America, unfortunately, is predicting a surge in oil prices in the New Year, possibly up to $100 a barrel.

That could push gas prices up to $4 a gallon in the spring.

But for now enjoy this early gift from Santa and don't waste your money.


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