As Memorial Day Nears, Gas Prices Rise
by: Ed Mayberry, May 16, 2013 10:05:00 am
Sarah Schimmer is with AAA Texas.
"For a gallon of regular unleaded, it's $3.41 --that's our statewide average, up three cents compared to last week, but down 16 cents compared to a year ago. In the Houston area, again, like the statewide average, $3.41. But in Houston it's only up one penny compared to last week. And in Houston we're paying 22 cents less than we did at this time last year."
Schimmer says retailers are expecting an increase in demand, and that's reflected in prices at the retail level. But prices could drop a bit after the holiday weekend.
"It's very possible. Historically, we typically see a little bit of an increase as we get to that, you know, big driving holiday. And then after the holiday we see gas prices decline just a little bit. But then right after Memorial Day, a month later we have Fourth of July. So around these major driving holidays it's not unusual to see gas prices inch up just a little bit at the retail level. But this increase that we're seeing this week and into next week is definitely going to be those retailers who are expecting much larger demand."
AAA Texas says higher crude oil prices have put upward pressure on retail prices.