Gas Prices Quickly Rising Ahead of Summer

Filling up the gas tank cost Americans an extra $4.4 billion in April.

Nobody is immune to rising gas prices, not even here in Houston.  The average price locally is now $2.68 a gallon -- just two cents lower than the statewide average.

"That's 53 cents more than we were paying a year ago, so on average when you take a 14-gallon tank, you're looking at about $7.42 more to fill up compared to a year ago," says Daniel Armbruster, spokesman for AAA Texas.

Armbruster blames a variety of reasons for the price spike.

"The White House's decision re-impose sanctions on Iran is a big part of that, as well as the switchover to summer blend gasoline," he says.  "We've had growing global demand and shrinking supply, and of course all of that as we approach summer driving season."

Even with rising gas prices, AAA predicts about 42 million Americans will travel over the Memorial Day holiday -- the most since 2005.

“We’re seeing a stronger economy, and that’s why people are able to travel,” says Armbruster.

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