Gas Prices This Weekend Will Be Highest in Six Years - KYTX CBS 19 Tyler Longview News Weather Sports

Gas Prices This Weekend Will Be Highest in Six Years

Posted: Updated:

(NBC News) -- Fill 'er up this weekend and watch your wallet shrink. Consumers will pay the highest Fourth of July gasoline prices in six years, but pump prices would be far higher if not for dramatic changes in the U.S. oil industry.

Both the production and refining sides of the industry are contributing to a better supply environment, thanks to the oil shale boom and significant expansion of the U.S. refining industry in the last several years. Prices are expected to go lower this summer, and by Labor Day could be 7 cents to 12 cents cheaper per gallon than the current national average of $3.67 per gallon.

"Without hurricanes, I would say Labor Day, I would be looking at something in the $3.55 to $3.60 neighborhood," said Tom Kloza, oil analyst with

Gasoline prices typically decline between Memorial Day and the Fourth of July, but this year prices rose, as the Iraq situation drove up crude oil prices.

Click for Local Doppler Radar
Powered by WorldNow

2211 ESE Loop 323
Tyler, TX 75701
Phone (903) 581-2211
Fax (903) 581-5769

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and KYTX. All Rights Reserved. Users of this site agree to the Terms of Service, Privacy Notice/Your California Privacy Rights, and Ad Choices.