After a winter with gas prices at a reasonable level, they're on the rise again. Just in time for spring breaks and summer vacations, the price of gas is soaring to record highs across the country and right here in Texoma.
In the last six weeks, gas prices have been on the rise and are the highest they have been all year.
It’s a trend which worries some local drivers.
The average price of gas here in Texoma is around $2.70 per gallon. Across the country, it tops off at $3.27 a gallon in California.
Economists the spike is due to the closure of several refineries around the country in the last several weeks and mounting tensions in the Middle East.
Another cause of rising gas prices could start right here at home. With many people still buying large SUV’s and many Americans driving everywhere they go, so as long as the demand is high, the supply will be low, meaning higher prices for consumers.
Austin college economics professor Kevin Simmons says the increase in gas prices doesn't surprise him. They typically fluctuate, and he says he wouldn't be surprised to see them drop back down in the next few weeks.
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