Gasoline prices are rising in Houston

Gas prices in the Houston area rose by about 10 cents from a week earlier and are likely to continue rising in the coming months.

Andrew Lipow, president of Houston-based consulting firm Lipow Oil Associates, said the increase was due to a combination of growing demand and stagnant supply.

“Refineries have started seasonal maintenance this time of year and inventory is not increasing as we head into the summer car season,” Lipov said.

Meanwhile, Lipov said trips across the country have increased given gasoline prices are much lower today than they were in 2022. In June last year, the average retail price of gasoline in the country reached $4.99. per gallon. The national average this week is about $3.45 a gallon.

Prices are likely to continue rising in the coming weeks.

“I predict that in the next couple of months we will see an increase to about $3.65 on the national average,” Lipow said.

In Texas, prices are lower—currently around $3.02 a gallon—but they could also rise.

Lipou attributes the surge to an increase in expected spring break and summer travel. Meanwhile, gas reserves are about 3% less than at the same time last year.