MONTGOMERY COUNTY — Gas prices have jumped back above $4 a gallon just over a week after the state’s gas tax holiday went into effect.
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Drivers like Kenneth Madison are taking notice of the jump in prices, with many stations in the Miami Valley showing $4.19 a gallon.
“They gave us the gas tax, and look, gas prices still where they at,” Madison said.
He’s talking about the state’s gas tax holiday. It went into effect earlier this month, knocking off about 38 cents a gallon.
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Patrick De Haan, the head of petroleum analysis at GasBuddy, called gas tax suspensions a “band-aid.”
“If it wasn’t for the tax suspension, you’d be paying what Michigan is probably close to $4.60 or $4.70 a gallon,” De Haan said.
As reported on News Center 7 at 5:00, he added that gas tax suspensions do help prices at the pump, but don’t address the root cause of the rising cost of oil.
“Even with the gas tax suspension, we’re $1.40 a gallon more than we were last year because (of) the geopolitical tensions,” De Haan added.
With the Iran war, as well as the war between Russia and Ukraine, De Haan said it is impossible to predict where prices go.
“It’s been the most unpredictable time of my career, the last seven and a half months, because you just never know when you’re going to wake up, and somebody’s going to decide to do something different,” he added.
De Haan told News Center 7 that until the situations overseas are sorted out, we will continue to pay more at the pump.
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