DAYTON — Drivers are hoping for relief at the gas pump, but experts say it won’t be soon.
[DOWNLOAD: Free WHIO-TV News app for alerts as news breaks]
“It’s less about global supply and demand right now, and more just what’s happening between the US and Iran,” Patrick De Haan, head of petroleum analysis at Gas Buddy, said.
TRENDING STORIES:
- Officer resigns amid investigation into school visits that chief claims were wellness checks for ICE
- Local man killed in two-vehicle crash in northern Ohio
- ‘Running saved my life;’ Local school district cuts plan that would have increased pay-to-play fees
De Hann told News Center 7 that Dayton could see prices jump again by the end of the week, with drivers seeing gas back up to $3.89 or $3.99.
It’s part of price cycling, which typically happens over 14 days. It’s when a gas station gradually lowers prices over time until it’s no longer turning a profit and has to raise them again.
De Hann said that since the war in Iran, the Dayton stations’ price cycle has lengthened, lasting about 20 days.
“The pace of decreases is actually slower, and that’s buying stations more time for having to repeat the cycle again,” he added.
With everyone watching the situation in Iran closely, De Hann said relief will eventually come.
“Almost every year, we see prices go down in the fall, and it’s very much seasonal. It’s very simple, and that’s why I do think we’ll see some measure of relief later this year,” he said.
[SIGN UP: WHIO-TV Daily Headlines Newsletter]