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Ohio


Ohio's higher gas prices may have a plus-side
They could be a sign of a boom in the economy -- as well as trouble in the Middle East
by WKSU's ANDY CHOW


Reporter
Andy Chow
 
Prices will likely climb this week as the Fourth sets off a three-day weekend.
Courtesy of Futureatlas
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In The Region:

Drivers can expect to see rising gas prices at the pump with as the holiday weekend approaches. As Statehouse correspondent Andy Chow reports, there are several reasons why – and perhaps even a silver lining.

LISTEN: Gas price pluses and minuses

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The average cost for a gallon of self-serve unleaded gas in Ohio now hovers around $3.70, according to GasBuddy.com. And analysts predict that will jump soon.

It’s a common trend around this time of year as many families travel for summer vacation.

Ohio University’s Scott Miller is director of a consortium encompassing energy, economics and the environment. He says the higher prices could be a sign of a stronger economy.

“When the economy is really rockin’ you’re looking at a lot more transportation, a lot more vehicle miles driven, a lot more demand at the pump and therefore greater demand equals greater prices.”

Of course political uncertainty in the Middle East is also playing into gas prices.

Miller adds this is a time when producers are trying to meet the sweet spot where supply can equal the demand so prices don’t go too high.

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