CINCINNATI — Across the state, people continue to feel pressure when paying at the pump. But in some areas, they’re paying a lot less.
Last year, gas in Ohio was $3.05 a gallon, this year it averages at $4.15 according to AAA. At one BP location in Cincinnati near the Kenwood Mall, it’s $4.59 a gallon.
“A lot of it is based on the retailer themselves,” GasBuddy’s Head of Petroleum Analysis Patrick De Haan said. “They have wide latitude as their cost has gone down. They have wide latitude to lower prices as quickly or slowly as they want.”
De Haan said supply and demand are primary factors in setting prices. But recently supply has been up and demand has been down, which allows some retailers to lower prices.
“A lot of why we see these hot spots in terms of stations that are far lower is because they’re simply more of a price leader,” De Haan said. “They’re essentially lowering prices to have more of a competitive edge.”
In Cleveland, gas is as cheap as $3.30 per gallon, but prices aren’t uniformly dropping. Which is drawing the attention of the President. On July 23, President Biden tweeted: “Oil Prices are dropping, gas prices should too.”
Ohio Gov. Mike DeWine believes more can be done. His Press Secretary Dan Tierney said DeWine is pushing to make E-15 fuel blends available year-round.
“By permanently removing unneeded summertime E-15 regulations, we can encourage more Ohio gas stations to offer E-15 and give Ohioans an option that provides real gas price relief,” DeWine said in a June 10 letter to the EPA.
E-15 is available this summer thanks to an emergency waiver.
In the meantime, De Haan said consumers should stay vigilant in searching for the best prices.
“Right now, even though prices are falling, is the exact moment you should be shopping around using an app like GasBuddy or Google or Waze because there is a huge spread,” de Haan said. “In some cases, the difference between stations can be $0.50 to a dollar a gallon. So motorists should be very aware of what they’re paying. Shop for those lower prices because across Ohio we’re seeing a lot more stations fall under $4 a gallon.”
De Haan expects prices to continue to inch down for the next few weeks, barring an intense hurricane season that would affect oil refinement and production.
