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Texas gas prices hit $4 mark as Houston sees highest levels since 2022
Gas prices in Houston have hit the $4 mark for the first time since 2022. Patrick De Haan, head of petroleum analysis at GasBuddy, joined Houston’s Morning Show to discuss how current developments are pushing oil costs higher.
HOUSTON - Amid international tensions with Iran, AAA data shows the average price for a gallon of gas in Texas has officially reached $4.
The average gas price in Houston has also hit the $4 mark for the first time since 2022.
Gas price surge in Houston
Big picture view:
Patrick De Haan, head of petroleum analysis at GasBuddy, spoke to FOX 26 Houston about how current developments are pushing oil costs higher.
He shared a glimmer of hope: oil prices plummeted 8% Wednesday and dropped another 4.5% Thursday morning.
However, he says the market remains highly contingent on whether the U.S. and Iran can successfully negotiate a way to reopen the Strait of Hormuz. If negotiations fail, prices could still climb higher.
Why can prices vary widely by gas station?
Local perspective:
Residents may notice significant price discrepancies between neighborhood stations. De Haan says this can be due to stations buying fuel on different days at different wholesale rates. Additionally, factors like overhead costs and local competition levels across different sides of Houston play a major role in what a specific station charges.
Ways to save
What you can do:
Traditionally, when the market is stable, Sunday tends to be a cheaper day to fill up, while Thursday is often the most expensive. However, De Haan warns that in the current volatile climate, those rules may not apply. With oil prices down considerably in the last 24 hours, waiting "later" might actually be better than buying "sooner."
To combat rising costs, drivers are encouraged to focus on fuel efficiency. De Haan suggests using cruise control, slowing down acceleration, and even driving a few miles per hour under the speed limit. Other tips include:
- Checking tire pressure regularly
- Removing "junk in the trunk" to reduce vehicle weight
- Using apps like GasBuddy to compare prices
- Utilizing wholesale club memberships and free loyalty programs, which can save 5 to 10 cents per gallon
"If you’re pedal to the metal, if you’re flying past all the highway traffic, you might be using a lot more fuel than other drivers," De Haan said.
The Source: The information in this article comes from an interview with Patrick De Haan, head of petroleum analysis at GasBuddy, on Houston’s Morning Show.