Gas expert explains why prices fluctuate across region

Gas prices across the Miami Valley vary by more than 70 cents.

As reported on News Center 7 at 5:30, GasBuddy’s Head of Petroleum Analysis Patrick De Haan explains what is going on behind the pump.

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Gas is costing drivers anywhere from $2.99 to $3.75 a gallon, according to GasBuddy.

“I think that through the course of the day, you’re going to see more and more stations that are raising their price to match that,” De Haan said.

De Hann thinks prices may be increasing because of Iran’s recent attack on Israel.

“This is another price cycle (that) happens every week or two,” De Haan said. “At least for now. Iran’s attacking Israel is having very, very low-level impacts if any at all.”

News Center 7′s Xavier Hershovitz visited a few gas stations in Xenia and saw the varying prices firsthand.

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On Main Street, he saw gas priced at an almost 60-cent difference.

“Stations will now start lowering their price and that eats into the profit margin or what they make when they start losing money. That’s when the price is cycled back up again,” De Haan said.

De Haan suggests you fill up your tank when prices are on the lower end.

As for the summer ahead, De Haan said prices will most likely linger in the mid-$3 range, but there may be slight fluctuations.

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