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The following is an archived video story. The text content of that video story is available below for reference. The original video has been deleted and is no longer available.

Gas prices trending down in the tri-state

CINCINNATI (Paula Toti) -- People who have filled up their tanks recently may have noticed gas prices dropping.

They're down 10 cents on average in the tri-state for August of 2014 of this year compared with 2013.  Jacqueline Chase, like a lot of others, enjoyed a bit of a break at the pump but seemed a bit skeptical.

"I think they're nutty up one minute and down another," Chase said.

The talk just a few years ago was of $5 gas prices that would have been a game changer.  At that time oil analyst John Schmitz told Local 12 they wouldn't hit $5 and had a simple explanation for the current move to the lower side.

"The demand for gas in our country is growing a little.  In Europe it's shrinking and the demand globally is growing a little.  But there's plenty of oil as long as it's refined," Schmitz said.

There's also been some relaxing by OPEC and even the way world markets react, or don't react, to global politics.  Still, prices around the tri-state can vary by about 40 cents.  Schmitz said it has to do with when stations buy their gas and from which supplier.


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