You're paying more for gas each time you fill up---the highest since 2014. In fact, we're currently paying the highest gas prices we've seen since 2014. Gas Price Analyst Karr Ingham has a few ideas why.
“Crude oil prices are the highest since 2014 and this is the time of year gasoline refiners switch the way they refine gasoline which adds expense.” Add to that vacationers will soon add to the demand. So far we're still under 3 dollars a gallon - but will it continue to rise?
Ingham says, “I think it will only gain another 20 to 30 cents a gallon.” He thinks it won’t get as high as it was years before because of the increase of global demand on U. S. crude and, “The U.S. is producing more crude oil than it has ever done in the history of the country!”
Ingham wants you to know this isn’t a bad thing for Texas and especially Houston. Higher crude prices and more production makes oil companies and refineries hire more people, and that trickles down to the industries that feed the oil industry. It’s good for the economy.And we won’t have any shortages at the pump any time soon!