Gas expert says Labor Day could bring relief to the pump – WHIO TV 7 and WHIO Radio

MIAMI VALLEY – In the past 24 hours, gas prices in the Dayton area rose 11 cents to an average of $3.59.

NewsCenter 7’s Taylor Robertson spoke with Patrick De Haan com.gasbuddy.comwho said that the rise in gas prices was due to one of the largest refineries in the United States having to partially shut down after a shortage tank caught fire.

>> City Planning Commission approves plans to build Sheetz in Centreville

The fire and partial shutdown of a refinery in Louisiana caused wholesale gas prices to rise by 15 cents per gallon. In addition to gas stations that were cutting prices, the sudden price jump put them at a point where they were selling at cost, which led to higher prices at the pump, De Haan said.

De Haan told Robertson that the upcoming Labor Day weekend could actually start bringing prices down a few cents a day.

“It’s important to understand how gas prices work in Ohio. They generally follow what we call a ‘price cycle,’ which is basically a top-down cycle,” De Haan explained. “Stations lower their prices to the point that they sell at cost. At that moment prices usually rise again.”

He also told News Center 7 that those looking to get gas should shop around and check apps like Gas Buddy or even just look online for prices before placing an order.

>> The ramp to NB I-75 in Montgomery will be closed for reconstruction starting today

If you’re racing from light to light while driving, De Haan said you’re essentially lowering your miles per gallon and increasing what you pay. He suggested using cruise control, keeping the windows open when running air, and removing excess weight from your car if you’re transporting items you don’t need.

See also  The Chinese company Country Garden sells its inventory to pay off its debts

“A lot of stations have loyalty programs that offer a discount of five or even ten cents per gallon, so you’ll want to make sure you have a loyalty program,” he said. “Some credit cards offer rebates, some stations offer different cash rebates as well, so there are a lot of different ways. Shopping is probably one of the best ways, the easiest ways to save money.”

Leave a Reply

Your email address will not be published. Required fields are marked *