Ohio Gas Prices Soar to Record Highs Amid Crude Oil Uncertainty
The price of gasoline in Ohio has reached record highs this August, according to AAA. The average cost per gallon of regular gas is now $4.17, up from $3.91 just last week.
This surge in prices is being driven by uncertainty along the Strait of Hormuz, which is affecting crude oil costs and ultimately pushing up prices at the pump.
Tyler Mobley, owner of JT's Tree Services LLC, said that his company burns about 300 gallons of diesel a day and has been impacted significantly by the price increase. 'It rose so fast,' he stated, saying that they couldn't absorb the cost into their quotes.
Jared Pincin, an economics professor at Cedarville University, noted that airlines are being particularly hard hit by the rising gas prices, as they may need to adjust ticket prices to account for increased input costs.