The Domino Effect Of Gas Prices
by: Pat Hernandez, February 27, 2012 12:02:00 pm
The good news with Houston gasoline prices: they remain more than 11¢ less than the national average. The bad news: according to Greg Laskoski, senior petroleum analyst with GasBuddy.com, is that the Middle East still dictates the uncertainty.
"Unfortunately the situation in the Middle East, until its resolved I think is going to continue to push crude oil prices higher. And everybody knows what happens when crude goes higher."
It's a domino effect, and Laskoski adds refineries are still in the process of switching over from the winter blend to the summer blend.
"That's the key problem right now — is the timing. And there are some scheduled maintenance problems, and there's always some unscheduled ones. So all of this stuff essentially spreads across the country, and this is what's pushing prices higher."
Including the change in gas prices in Houston during the past week, prices yesterday are more than 25¢ per gallon higher than a month ago, but over 32¢ per gallon higher than this time last year.