Ohio Gas Prices Continue To Rise

You've likely seen it, heard about it, or experienced it for yourself as oil prices have spiked to the highest level in nine months.

They are up nearly nine percent since the beginning of the year.

Analysts say the jump in price isn't so much a demand issue, as simply fear over a shortage, reported ONN's Denise Alex.

Cruising through Columbus Tuesday, gas prices averaged around $3.47 a gallon. Not the worst central Ohioans have seen, but enough to curb spending habits.

"I can't afford it. I can't do the normal things I'd like to do with the family because I put all the money in the gas tank," said Daniel Meadley of Columbus.  He said even driving to work is taking a toll on his wallet.

"This is definitely something we're keeping out eye on because tourism is big dollars. It supports over 62,000 jobs here just in central Ohio alone," said Scott Peacock of Experience Columbus.

Experience Columbus is offering package deals to lure more people to the Capital City, helping small business and those looking to save some cash. This comes at a time when the national average for a gallon of regular gasoline is $3.57 and expected to go higher.

Some analysts think that the pump prices could go as high as $5 a gallon by this summer, but others say those pump price predictions are premature.

"When people start speculating and insighting this fear of $5 a gallon gasoline, they are really doing a disservice to the American motorist and the only people they are really helping are the investors," said Kimberly Schwind, spokesperson for AAA Ohio.

Schwind said Ohioans shouldn't worry about the future of gas prices just yet.
 
Pump prices typically rise during the busy travel seasons of spring and summer, but costs also depend on political factors overseas and economic stability in the U.S.

If it gets worse, habits could change.

"I'll be spending a lot of date nights on the weekend at home in front of the TV," said Meadley.