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Gas Prices On The Rise, Again

By Steven Pickering, NewsRadio 1080 KRLD
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DALLAS (CBSDFW.COM) – The average price of a gallon of gas crept up slightly in Texas this week. The state-wide average is $3.25, which is two cents higher than last week.

Dallas-Fort Worth and Texarkana had the highest averages in the state at $3.28 per gallon, according to AAA Texas. Amarillo had the lowest at $3.03.

Prices have leveled off after a sharp spike caused by uncertainty in the markets, according to Senior Petroleum Analyst Patrick DeHaan with “A lot of it had to do with the situation with Iran,” he said. “The situation has cooled somewhat.” Leaders of Iran had indicated they were considering trying to blockade the Strait of Hormuz, a key shipping lane, but the blockade never materialized.

“I would foresee prices to remain relatively stable,” said DeHaan. “They may rise by a nickel over the next few weeks.” The next big increase, he said, would likely occur this spring – as refineries conduct maintenance to prepare for the switch to summer blend gasoline.

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