Cincinnati gas prices have dropped, but prices could still go back up this summer.
Cincinnati gas prices fell 6.5 cents per gallon in the past week but still stand $1.19/g higher than a year ago.
"Last week saw the national average hit its highest level in two years, and with continued recovery in gasoline demand, the increase in price is likely to continue into the future," said Patrick De Haan, head of petroleum analysis for GasBuddy. "Americans may now want to brace themselves for the possibility of a $3/gal national average in the weeks ahead, as demand remains strong as Americans take to the roads."
AAA said at the start of May, the national gas price average is $2.90, which is three cents more than the previous month.
“While April saw minimal fluctuation, May is likely to see much larger increases alongside demand spikes, especially closer to Memorial Day weekend,” AAA spokeswoman Jenifer Moore said. “Compared to May 2019, U.S. gasoline demand is down only 4% and gas prices are on average just two cents more.”
Why are gas prices going up?
AAA said demand could cause the appearance of a fuel shortage this summer.
“With road trips expected to be popular this summer, some summer travel destinations, like beaches or mountains, may see some pumps affected. It is important to understand this is not a market-wide impact. Gas can be found at other stations within a market,” Moore said. “The U.S. is not looking at a gas supply shortage; there is ample gasoline supply across the country. It is just a matter of more frequent deliveries to stations to meet demand.”
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