Gas prices are still low, but could rise if relations with China improve. Bill Lackey/Staff

Area gas prices drop below $2 again

Gas prices in the region are back under $2 at several area gas stations, but could rise again soon.

Some of the cheapest prices can be found in Centerville, according to WHIO’s Pump Patrol. The average cost of a gallon in Dayton is $2.14, with the cheapest coming in at $1.99 at Sam’s Club on Ohio 725, according to GasBuddy.com.

Crude oil costs peaked Friday in response to the Organization of Petroleum Exporting Countries deciding to cut back production by 1.2 million barrels each day in 2019. But cost of a crude oil barrel dropped back down more than $3 per barrel Monday, with pump prices following close behind.

“Prices have not seen a sizable rally from OPEC’s decision, because OPEC’s production cut was lower than many, including myself, expected,” said Gasbuddy.com analyst Patrick DeHaan.

But prices could rise again soon, as crude oil increased $1.21 per barrel this morning. Improving relations with China serving as a potential signal of economic growth could also cause gas prices to rise, DeHaan said.

“If there’s a wide deal and complete thaw of trade tensions, oil could rise $5 or more per barrel,” he said.

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