High gas prices meant Ohioans had less money for discretionary spending, and that hurts the economy, experts said. The pinch at the pump causes many consumers to pinch their pennies and cut back on shopping, entertainment and dining out. Consumer spending is needed to grow the economy and cause businesses to increase hiring.
The good news is that gas prices are expected to drop to some of the lowest levels this month and the next in about years. 2013 is not expected to set a new record for prices.
Annual gas prices per gallon | ||||
|---|---|---|---|---|
| Dayton-Springfield | Cincinnati | Ohio | U.S. | |
| 2012 | $3.57 | $3.59 | $3.58 | $3.60 |
| 2011 | $3.53 | $3.55 | $3.55 | $3.59 |
| 2010 | $2.87 | $2.89 | $2.88 | $2.94 |
| 2009 | $2.46 | $2.48 | $2.48 | $2.52 |
| 2008 | $3.38 | $3.41 | $3.40 | $3.48 |
| 2007 | $3.04 | $3.08 | $3.08 | $3.10 |
| 2006 | $2.82 | $2.86 | $2.85 | $2.93 |
| 2005 | $2.60 | $2.62 | $2.61 | $2.67 |
| 2004 | $2.20 | $2.19 | $2.20 | $2.25 |
| 2003 | $1.89 | $1.89 | $1.90 | $1.95 |
| 2002 | $1.93 | $1.68 | $1.69 | $1.73 |
| Source: AAA Fuel Gauge Report | ||||
| Note: Data is inflation-adjusted | ||||
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