MIAMI VALLEY — Gas prices will not go down until the Straight of Hormuz is back open, according to analysts.
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As reported on News Center 7 Daybreak, gas prices have risen 14 cents overnight, which is 40 cents in the last month.
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The price increase is due to the Straight of Hormuz being blocked since the War with Iran began.
Before the War with Iran, gas prices were averaging less than $3 per gallon.
Now, drivers have been left having to adjust to the rising prices.
In the Dayton area, drivers are paying an average of $ 3.81 per gallon for gas.
Randall Shead from Xenia said he thought the prices were good about a month ago, but now they have become outrageous.
“I got a 16-gallon tank. I could do it for 35, now it’s 45 to 55,” he said.
Patrick De Haan, head of petroleum analysis at GasBuddy, said it is unpredictable how long the prices will be high.
“All I know is that as long as the Strait of Hormuz continues to be blocked, we’re going to continue to see oil prices go up,” he said.
President Trump has set a deadline of tonight for the Strait to reopen, and has threatened to escalate the war if that doesn’t happen.
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