HOUSTON, TX – If you’re hoping for a little road trip before the summer is over, you’d better do it soon. Oil analysts are expecting a jump in gas prices over the next few weeks. Possibly as much as 30 cents a gallon. And their pointing at political unrest in Egypt as the culprit.
“It affects me since I’m a student in college trying to get around and trying to budget my money and everything,’ says Houstonian Dominique Delgado. ‘I mean, gas is going high.”
While it’s not uncommon to see a late-summer spike at the pumps because of the possibility of hurricanes and maintenance shut-downs at refineries, the triple-threat of mid-east turmoil is enough for speculators to cover their gasses.
“Oil prices are going up because of the geo-political problems in the mid-east,’ says Energy Intelligence Group Houston Bureau Chief, Barbara Shook. ‘We always have geo-political problems in the mid-east, and once things settle out in Egypt in particular, the oil prices will probably drop back a bit.”
The good news is that if we do see a spike at the pumps, it’s not expected to last long. Possibly only a month or so. But for those folks hoping to get out of town while there’s still a little summer left, any spike in prices can be too much.
“Thirty cents is a lot,’ says Houstonian David Welp, ‘particularly when only ten or fifteen years ago a dollar, dollar-forty, seemed like a lot for gas.”