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 Buddy.com 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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