Gas Prices Could Go Up by Summer Due to the Energy Crisis
The extreme cold that is crippling most of Texas could be leading to some of the highest gas prices the country has seen since 2019.
I use Gas Buddy to find the lowest gas price in my area if I'm not sure where the cheapest gas is.
I remember the last time the gas prices went up, and it wasn't fun filling your car then.
Gas Buddy says the national average has been rising for six straight weeks and could jump another 10-20 cents in the next two weeks. The current national average is $2.54. The gas trackers say it's due in part to 11 refineries in Texas and one in Kansas having at least partially shut down due to the freezing weather.
GasBuddy expects the national average could rise closer to $3 per gallon closer to Memorial Day weekend. There's typically a rise in gas prices this time of year due to refineries switching over to EPA-mandated cleaner summer fuels.
"That's the fear economist have right now amid the energy crisis that started in Texas," reports Tom Busby of Bloomberg.
"40% of the nation's oil output is now offline. The governor there banning natural gas from leaving the state to ensure Texas has enough supply and that has oil above $61 a barrel, the highest in more than a year.”
The cheapest gas in Killeen, according to Gas Buddy, is $2.06, and in Temple, $2.08
The good thing we have a while before the gas prices go up, hopefully. And the projected price will not go past $4 gallon. That's California prices right there.
We love the saying, "Everything is bigger in Texas", but we all hope the gas prices in the future are not crazy big.