Vacationing Texans will find the highest gas prices seen since records were being set in 2008 as they travel for the Fourth of July. Senior oil market analyst Phil Flynn says conflicts in the Middle East are keeping the price up.
“The situation in Iraq and the ongoing conflict between Russia and Ukraine has kept the price of crude oil elevated,” Flynn says. “Whenever the price of crude oil is elevated it drives up those gasoline prices.”
Flynn says the good news is ... the price isn't going any higher right now. But, he says the disturbing thing is, it had been anticipated the prices would be lower.
“It's kind of disturbing because,” he says, “really, we thought gasoline prices would be lower this time of year.”