How High Could D-FW Gas Prices Go in the Next Few Months? We Ask the Experts

Motorists often fear price shock when they hit the roads for the summer. But gasoline prices have already shot up and could peak before the holidays and heat arrive, experts say.Gasoline prices in Texas are about a quarter higher than they were a month ago and show signs of further increases, said Daniel Armbruster, a spokesman for AAA. Meanwhile, the average national gas price is creeping toward $2.70 and has already reached its highest level since 2015."In the next few weeks, we will likely see a peak price," said Patrick DeHaan, senior petroleum analyst for GasBuddy.com. "I would say it could go up another 10 to 20 cents at the most. We're reasonably close to seeing the peak price for the year."In a January forecast, GasBuddy said the national average gas price would likely reach a high of $2.73 in May. This week, the U.S. Energy Information Administration projected that the national average would hit $2.74 -- 32 cents higher than last year's average high.The GasBuddy and EIA reports estimated that drivers would pay an additional $133 and $190 respectively on gasoline in 2018 compared to last year. But any of a variety of factors — from Venezuela's political struggles to a potential trade war with China to military conflict in the Middle East — could push the prices higher.Texas drivers have it much easier though. They were paying the nation's fourth lowest gasoline prices recently, Armbruster said. Statewide prices are traditionally way below the national numbers thanks to Texas' proximity to Gulf Coast refineries."By no means is it going get anywhere near $3 a gallon," said DeHaan about the national average. "I think Dallas is going to be fairly consistent in the mid-$2 a gallon range for not only the peak price but for most of the summer."  Continue reading...