Predictions from local energy experts are becoming reality as gasoline prices continue to increase substantially in Houston.
Gasoline prices both locally and around the country have been up in recent weeks thanks to a surprise announcement earlier in April that OPEC Plus would cut oil production.
The statewide average for a gallon of regular unleaded was $3.04, according to AAA Texas; now, it’s more than $3.30 on average with not much sign of any dramatic drop coming.
Andrew Lipow is President of Lipow Oil Associates, a consulting outfit in Houston, and he says once refineries finish switching to the summer blend of fuel prices typically stabilize. However, he adds that there are always other factors that can impact what drivers pay for gasoline in the warmer months.
“Hurricane season is right around the corner and with 45% of the nation’s refining capacity concentrated along the Gulf Coast," Lipow said. "There’s always a concern that a major hurricane results in taking out a lot of that resource which impacts on gasoline and diesel supply.”