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Gas prices spike to $3 on tropical storm fears

Cincinnati area prices hit highest level of 2019
Posted: 6:08 PM, Jul 11, 2019
Updated: 2019-07-11 18:16:36-04

Just when it seemed Cincinnati-area gas prices were starting to drop following the 4th of July holiday weekend, they are jumping again.

Prices at stations all over the Tri-State area zoomed up to $2.99 a gallon (let's face it, that's really $3), on Thursday afternoon, hitting their highest level of 2019.

The latest villain costing us more at the pump: Tropical Storm Barry, which has shut down one-third of Gulf of Mexico production this week, according to the US Energy Department, causing a sharp increase in gasoline futures.

The drop in Gulf supplies comes after two other incidents increasing gas prices: Ohio's 10 cent increase in the gasoline tax on July 1st, and June's explosion and shutdown at a Philadelphia gasoline refinery.

The good news: barring any major damage to oil facilities, AAA expects gas prices to drop next week, once the storm passes and refineries and oil rigs reopen.

That way you don't waste your money.

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