Rising gas prices set new record in Texoma
In Sherman and Denison, the average gas price on Tuesday is $4.09
SHERMAN, Texas (KXII) - That short break from soaring gas prices is unfortunately over as new price tags shatter records in Texoma.
“I hope it doesn’t get any higher,” said Austin Bush. “The higher it gets, the harder it is for people to buy other things.”
In Sherman and Denison, the average gas price on Tuesday is $4.09, up from $3.94 on Monday and beating the record set in March by eight cents.
“We’ve seen it, but a daily jump of 15 cents is a pretty healthy jump,” said AAA Spokesperson Daniel Armbruster. “You don’t see that often.”
AAA points to the ongoing conflict in Europe, and an increase in demand for fuel as summer travelers hit the road, creating a perfect storm for higher gas prices.
“Volatility like that in the market- it creates uncertainty, so the price for retail fuel is going to continue to increase just because of the uncertainty there,” said Armbruster.
On the Texas side of the red river, local distributors said they have to switch to summer-blend gasoline, limiting where they can get the ingredients.
“Normally, in North Texas, we’re able to bring Oklahoma motor fuel down to Texas, but because they changed the formulation, it’s now summer gasoline,” said Brad Douglass, the CEO of Douglass Distributing. “We have to use a lower emissions gasoline in Texas, which means we’re having to pay Dallas prices.”
And let’s not forget the inflation everywhere else.
“The cost of diesel going into our trucks, the cost of labor in our stores, the cost of labor for delivery, everything is going up,” said Douglass.
All of it combines to mean a mounting total at the pump.
“We are all frustrated,” said Douglass. “We do a lot better when gasoline is 2 dollars a gallon versus 4.”
And the prices are forcing consumers to cut back on other parts of their budget.
“For us, it has been eating out,” said Bush. “We don’t eat out as much, so we can pay for the extra we’re spending in diesel to get back and forth from work and to other places.”
AAA said such a large jump in prices might indicate even higher prices on the horizon, and costs may remain expensive through the summer.
AAA recommends keeping up with car maintenance, going the speed limit, and trying not to accelerate too fast to save on as much gas as possible.
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