Gas prices down but could rise soon

Gas prices are trending in the right direction if you’re filling up in Houston today. Prices are averaging $2.51 a gallon around the area. That’s down five cents from last week.

But if you think this downward trend will continue, you could be very, very wrong.

“Gas prices are falling for now, but that could change soon as market analysts indicate global supply for crude oil could be impacted by the U.S. sanctions against Iran scheduled to take effect in the next week, said Daniel Armbruster of AAA Texas. “How expensive gas prices will be depends on how the market reacts to the early November events.”

Armbruster says it won’t be as expensive as we saw over the summer, but they will go up from their current levels. The Texas average is $2.52 a gallon, with the national average at $2.79. Drivers in Midland are paying the most on average at $3.03 while drivers in Sherman-Denison are paying the least at $2.34 per gallon.

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