Study: Cincinnati gas prices fall 34 cents in a month - Cincinnati News, Weather, Sports from FOX19 NOW-WXIX

Study: Cincinnati gas prices fall 34 cents in a month

Posted by Trina Edwards - email

CINCINNATI, OH (FOX19) - A new study by AAA says Cincinnati gas prices have fallen 34 cents over the past month.

The current gas price average in Cincinnati is $2.44 a gallon, compared to $2.78 a gallon one month ago. 

Drivers across the Tri-state area and nation are seeing similar dips in gas prices.  Nationally, fuel prices have fallen 14 cents in the past month.  Kentucky and Indiana gas prices have dropped 18 and 31 cents, respectively, since June 14.

AAA officials say oil prices have driven the recent spike and drop in fuel prices, with crude oil hitting the $75 per barrel mark in June and dipping to around $60 per barrel currently.  However, strong signals that the economy is improving may cause oil, and subsequently gas prices, to jump once again.

One factor that may help control gas prices is that oil demand continues to be very weak and supplies remain strong.

AAA surveys approximately 100,000 gasoline stations throughout the United States to determine the average price for motoring fuels.

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