(The Center Square) – After a brief reprieve, gas prices across Ohio skyrocketed more than 40 cents a gallon this week, topping $4 a gallon for the first time in nearly four years.
The jump, according to AAA Public and Government Affairs Manager Morgan Dean, is one of the largest overnight jumps since the U.S.-Iran conflict began two months ago.
“In Ohio, this is one of the biggest overnight jumps we’ve seen since the Iran conflict began,” Dean told The Center Square. “Drivers have seen some relief lately, but there’s still a lot of uncertainty and volatility in the oil market due to the continued conflict in the Middle East. According to reports, a lot of the jumps in overnight oil and gas prices seem to be related to the discussions and disagreements between the U.S. and Iran over the Strait of Hormuz.”
According to AAA, Ohio’s average price per gallon Wednesday stood at $4.22 a gallon, up 14 cents from Tuesday and 44 cents from a week ago. Gas is up $1.16 from the same time last year in the state.
Also, for the first time in several years, Ohio’s average gas price is equal to the national average.
A secondary issue impacting prices in the Midwest, according to GasBuddy, is limited spare refining capacity in the region, following a power outage Sunday at a BP refinery in Whiting, Ind., near Chicago.
