GasBuddy.com reports the average price for a gallon of gas in Houston is up over two cents this week. The average is now at 3.20 a gallon. That’s close to 30 cents higher than prices a year ago, and 16 cents higher than what drivers were paying a month ago. Petroleum analyst Patrick DeHaan says events elsewhere are driving up prices, specifically Iran’s threat to close the Strait of Hormuz, a crucial oil shipping lane.
“You know, I would say in the next few weeks, folks in Houston should anticipate prices rising, anywhere from 3.25 to 3.35 a gallon in the next two weeks or so. That would be a rise of between four and ten cents a gallon.”
And DeHaan says prices could go even higher as we head toward the summer travel season.
“Prices in Houston could get dangerously close to four dollars here, or slightly higher than four dollars, come Memorial Day weekend or some point in May. That’s typically when gas prices peak, early in the summer months.”
The national average for a gallon of gas stands at 3.34, a little over a penny higher than a week ago.