CINCINNATI — Ohio gas prices jumped 37 cents Friday, pushing the statewide average to $4.83.
That's up 92 cents in just one week, $1.06 over the past month and $1.64 higher than this time last year.
In the Tri-State, prices are running even higher. A UDF in Bellevue hit $4.99 a gallon on Friday. The Greater Cincinnati area on the Ohio side is averaging $4.79, up 35 cents in a single day, 82 cents in a week, $1.10 over the past month and $1.59 higher than this time last year.
Kentucky's statewide average is $4.15, but many local prices are well above that.
And the sticker shock is real for drivers.
"When I saw $4.99, I just thought, you gotta be kidding me," Tom Rawe said.
“I was not happy, I was like, 'no way,'" Sherri Cox said.
WATCH: Breaking down what could be in store for Ohio gas prices
Where prices could go from here
Ohio's all-time record high, $5.06 a gallon set on June 9, 2022, is now within reach. With the statewide average sitting at $4.83, the record is just 23 cents away. AAA Club Alliance Spokesperson Morgan Dean said the math is hard to ignore.
"Considering there's a 37-cent jump overnight … which is really only at that point, 22, 23 cents away. It's within possibility," Dean said.
And there is no clear timeline for relief.
"There's no roadmap for this. It's a couple of different things all coming together, which makes it so very hard to predict," Dean said.
What's driving prices
Two major factors are colliding to push prices to near-record levels, and Ohio is getting hit harder than most states because of both.
The Iran conflict and global oil prices:
The Strait of Hormuz, a critical waterway through which 20% of the world's oil production passes, has remained closed amid ongoing conflict in the Middle East. Before the conflict, West Texas Intermediate crude oil was trading around $65 per barrel. Today it's over $100 per barrel.
Dean said 50 to 60% of what drivers pay at the pump is directly tied to crude oil prices. While the U.S. does not import oil directly from Iran, oil is a global commodity, and the ripple effects are being felt in countries around the world.
Indiana refinery problems:
On top of the global pressure, a major refinery serving the Great Lakes region is experiencing production problems, creating an additional supply crunch specifically for Ohio and neighboring states.
"Ohio and the Great Lakes states have some unusual things going on right now due to some refinery issues in Indiana … on top of everything that's happening with the Iran conflict," Dean said.
Dean said once the refinery returns to full production, it should help ease some of the regional pressure, but there is no word yet on when that will happen.
The impact goes beyond the gas pump
The price surge isn't only hitting drivers at the pump. Higher fuel costs are working their way through the broader economy in ways that will affect everyday household budgets.
Groceries:
Diesel fuel, which powers the trucks that deliver goods to stores, is averaging $5.46 a gallon in Ohio, a full dollar more than the regular unleaded average. Those higher delivery costs are likely to be passed on to shoppers.
"It's costing these folks more money just to get them to the store. So at some point, they're probably going to pass it off to the shoppers out there. So you're suddenly going to notice that the milk, the eggs, the other items that you're buying, that you normally buy day in and day out, week in and week out for food, are suddenly a little bit more expensive, and that's because of those gas prices as well," Dean said.
Air travel:
Jet fuel is derived from crude oil, and airlines facing sharply higher costs are likely to pass them on to passengers.
"You may see higher ticket fares. You may see some fuel surcharges, and you may see some added luggage fees for people that are overweight because they have to account for that now that they're putting more gas into that plane," Dean said.
Drivers say the squeeze is already changing how they live day to day.
"Trying to stay in as much as I can so I don't have to fill up with gas," Isaac Khamis said.
"Not getting as much food, trying to make stuff I have at home, we can't even go out to eat," Cox said.
How to save on gas right now
Until prices come down, here is what you can do to keep more money in your pocket.
Find the cheapest gas near you
Prices can vary significantly within just a few miles. Use apps like GasBuddy, Waze or the AAA app to find the lowest prices nearby.
Just don't drive too far out of your way, because the extra fuel burned can wipe out any savings.
Use every discount available to you
- Loyalty rewards: At Kroger, buying gift cards earns 4x fuel points through May 12. Double up on Fridays for even more savings. Check whether your grocery store or big box retailer offers similar fuel discounts through a loyalty card.
- Credit cards: Some cards offer cash back or a per-gallon discount at the pump. If you have one, use it.
- Warehouse club memberships: Costco, Sam's Club and BJ's buy gas in volume and typically sell it at a discount to members. If you already pay for a membership, take advantage of it.
Drive smarter and cut unnecessary trips
- Combine errands into single outings instead of making multiple separate trips.
- If you can work remotely, even skipping one or two commutes a week adds up.
- Avoid aggressive acceleration and unnecessary idling, both of which burn more fuel than needed.
Get your vehicle running at peak efficiency
A well-maintained vehicle stretches every gallon further. Dean recommends checking several things now:
- Tire pressure: Spring temperature swings cause tires to lose pressure. Under-inflated tires increase rolling resistance, forcing your engine to work harder and reducing fuel economy. Check the sticker inside the driver's side door for the correct pressure and inflate accordingly.
- Oil and air filter: Fresh oil and a clean air filter help your engine run more efficiently. If you're overdue, now is a good time.
- Remove unnecessary weight: The winter emergency kit, including bags of sand, kitty litter, and traction mats, can come out of the trunk now. Extra weight means your engine works harder to move the vehicle forward.
- Pack luggage inside when traveling: Roof carriers, car-top bags and trailers create wind resistance that cuts into miles per gallon. If everything fits inside the vehicle, keep it there.
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