Gas prices expected to keep rising in weeks to come

Gas prices expected to keep rising in weeks to come

TYLER (KYTX) - Exactly one week ago, gas prices were at the lowest they've been in five months, but how quickly things change. Drivers can expect to see more increases at the pump.

It's a time that some don't know existed, but east Texas driver Al Schrumpf remembers the 1970's.
"When I was 16 I had to, we had to wait in line because they were rationing it out and it was like $0.52 a gallon," Schrumpf said.

He lived through a severe gas shortage, now Americans are living through constantly fluctuating gas prices. In a weeks time Schrumpf said he's seen prices go up $0.12. The national average is up $0.07 since last week.

Unlike other parts of the United States, Texas hasn't seen prices at $4.00, but as the cost of gas goes up, that could change and if it does people will be looking for ways to save on gas and money.

Schrumpf said, "I would ration my driving a bit and we probably wouldn't go out to eat as much."             

Prices at the pump are expected to go up an additional $0.10 to $0.20 in the next two weeks. The increase in prices could be blamed on the increase of a barrel of gas. It costs $106 for a barrel. CNN Money reports that's the highest it's been in a year. Analyst say as we continue to eat into our reserve gas stash, we could see even more increases.

Schrumpf said he'll wait to see what happens.

"Even though gas is going up at least we're not waiting in line." 

 


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