Gas prices at the pump takes huge jump

Fuel Fix:
Drivers may be getting some sticker shock at the gasoline pump with prices spiking by 15 percent in one week in the Houston area, according to survey data from GasBuddy.com

The price of a gallon of regular unleaded gasoline averaged $1.78 on Monday morning in the Houston region, up from $1.55 per gallon last week. That compares to the national average jumping from $1.81 a gallon to $1.94 in a week.

Prices were already on the rise because of seasonal refinery shutdowns to switch to more expensive summer-blend fuels. A jump in oil prices last week added to the shift.

“The cheapest gas prices of the year are now solidly behind us as the national average will soon again hit $2,” said Patrick DeHaan, senior petroleum analyst for GasBuddy, in a prepared statement. “The current upward trend is an unfortunate one that we witness every year, but the sudden jolt this time around has been enhanced by a 45 percent jump in the price of crude oil in the last month.”

The national average for gasoline dipped below $2 a gallon in December and steadily decreased until mid-February. The Houston area hasn’t seen an average of $2 a gallon since October.
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The summer gas blends seem to coordinate with the blooming of the bluebonnets as seen from the Texas highways.  Since prices are expected to rise through May, it is probably a good idea to keep you tank topped off at the current prices.  The good news for Texas is that in jump in the price of crude will mean that more wells will be profitable which could lead to more energy jobs.

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