MoneyConsumerDon't Waste Your Money

Actions

Gas price alert: Ohio's new 10 cent tax hits Monday

Think pump prices are high now? Wait till July 1
Gas at $3.09 a gallon on Union Center Blvd in West Chester, Ohio, June 26, 2019.
Posted at 11:12 AM, Jun 27, 2019
and last updated 2019-06-27 15:52:20-04

So you think Cincinnati-area gas prices are high now, with most stations raising prices to $2.79 a gallon this week?

They will be going up at least another 10 cents a gallon on Monday. And those who drive a diesel truck should expect to pay another 20 cents a gallon, if not more.

That's because Ohio's new gasoline tax takes effect July 1st.

State lawmakers passed a 10.5 cent increase on gasoline and 19 cent a gallon increase on diesel earlier this year in an effort to help repave the state's crumbling roads.

The bill, signed by Gov. Mike DeWine, will raise as much as $10 billion for much needed highway and bridge construction.

But drivers will feel a pinch as early as the July 4 weekend, according to GasBuddy.com.

We are already seeing price hikes due to the recent Philadelphia oil refinery fire, which cut east coast supplies as much as 20% in some areas and is starting to have a ripple effect in the Midwest, according to Gas Buddy. Gasoline futures have risen 12 cents a gallon in the past week due to the fire, analysts say.

In addition, rising tensions with Iran have sent crude oil prices up the last month.

The result: Cincinnati-area gas prices jumped from $2.49 at many stations to $2.79 this week, though we found the Shell at Union Center Boulevard in West Chester at an eye-popping $3.09 a gallon for regular.

And they may tack on another 10 cents Monday.

As always, don't waste your money.

______________________

Don't Waste Your Money" is a registered trademark of Scripps Media, Inc. ("Scripps").

Like" John Matarese Money on Facebook

Follow John on Twitter (@JohnMatarese)

For more consumer news and money saving advice, go to www.dontwasteyourmoney.com

Don't Waste Your Money logo

Don't Waste Your Money

8:47 PM, Oct 17, 2018

Have a problem?
Send me an email, at jmatarese@wcpo.com or message me on Facebook.