Gas prices skyrocket to record numbers for this time of year - KLTV.com - Tyler, Longview, Jacksonville |ETX News

Gas prices skyrocket to record numbers for this time of year

TYLER, TX (KLTV) -

With each passing day, East Texans are feeling a little more pain at the pump.

Since December, prices have jumped to well over $3.40 per gallon in some places, putting a strain on even the most fuel efficient of drivers.

Even though we expect the price at the pump to jump around summer time...It's already taken a significant increase since December.

Exactly two months ago, regular unleaded was $3.07 at one gas station in Tyler.

A month later it climbed to $3.21. Currently, the price is $3.46 per gallon.

Bob Tippee of the Oil & Gas Journal says the increase isn't that unusual.

"Gasoline consumption has flattened. It will vary over the course of the year. It will go up in the driving season and down in the off season," said Tippee.

Despite the plateau of consumption, he says production is costing more. But, he tells us a spike to $4 or $5 dollars per gallon  is unlikely.

But, Harold Doty with UT Tyler's College of Business and Technology  says the future of the pump is a bit more grim.

"Even though the demand for gasoline in the U.S. has gone down...production has gone down even faster. And, that puts an upward force on the prices," Doty told us.  

Toss in refinery closures, foreign affairs and pipeline shortages and you get record-breaking prices.

"We have record high gas prices right now. They've never been this high this early before," said Doty.

Both experts agree that unforeseen events such as hurricanes or disruptions in the Middle East could send prices up without much notice.

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