Gas prices rising in Texoma

SHERMAN, Tex. (KXII) - Gas prices are on the rise in Texoma.

In Sherman and Denison, people are paying an average 10 cents more at the pump from a week ago.

"I can complain but it's not going to do no good," said Fred Thompson, who was filling up his tank.

Thompson said even if gas prices are soaring, he still has to fill up his tank.

"It is what it is," Thompson said.

According to AAA, the average in Grayson County is $2.60, about 30 cents higher than last month.

Just since last week, prices have gone up 10 cents in the Sherman and Denison area rising above the state average.

Across the Red River, prices are sitting around $2.43 in Bryan County.

"The way of the world is up and down so it's always been like that, it will always be like that," Thompson said.

CEO of Douglass Distributing Brad Douglass said the decrease in supply is due to rising tensions in the Middle East.

Sunday the Iranian revolutionary guard seized an oil tanker along the Strait of Hormuz reportedly carrying 264,000 gallons of fuel.

"Oil prices have been rising on the market. And unfortunately then prices rise at the pumps as those wholesale costs have to get passed to law," Douglass said.

He said the rise is also due to a peak demand this time of year.

Douglass said July is the busiest month for travel with lots of people filling up.

Thompson said he's not letting it get him down.

"I've learned to be content and not to complain, just be grateful that I can get it," Thompson said.

Douglass said during a period of crisis, there's more volatility in the market meaning drastic price changes.

He said this conflict in the Middle East has caused about a 50 cent increase, but he's hopeful for a resolution.

"That if we resolve that in the Middle East, we could get gas link prices below $2," said Douglass.

"I hope that it goes down soon," Thompson said.